New York Times Puts Boston Globe Up for Sale
The New York Times, facing a difficult environment for newspapers in the digital age, announced Wednesday a plan to sell The Boston Globe and other New England assets.
The Times said in a statement that it has hired Evercore Partners to advise the company and manage the sale process. The company aims to streamline its assets to promote its own marquee brand.
The real bottom live is that the NYT needs MONEY! They’ve been bleeding $$ profusely for many years. This is an attempt to buy time, but for what? Given Obama’s tendency toward ingratitude and no longer needing the media quite as much (being termed out net Presidential election) he might not even attempt to bail out the NYT.
Couldn’t happen to a nicer bunch (the NYT and the Globe)! Maybe the Globe’s soon-to-be-new-owner might try some thing weird and unique … like being … non-partisan! So weird … it might even work!