For Sale: The Boston Globe
The New York Times Co. is putting The Boston Globe back on the auction block. The company has been selling off its print assets in recent years as part of its expansion plans, and the Globe is its only remaining business outside the core New York Times media brand.
So who might want the Globe, and how much is it worth?
WBUR ” The Boston Globe is up for sale, again. The New York Times Co. said Wednesday that it has hired an investment firm to find a buyer for the Globe and related properties.”
Bloomberg “Times Co., controlled by the Ochs-Sulzberger family, is coping with a difficult advertising market as spending on national campaigns continues to shrink industrywide. The publisher has sold other assets unrelated to the Times brand, getting rid of regional newspapers and About.com within the past 13 months.”
Boston Globe “The move comes more than three years after the Times Co. tried unsuccessfully to sell the Globe amid the recession and mounting losses at New England’s largest newspaper. Now, after a significant turnaround at the Globe and its online sites, BostonGlobe.com and Boston.com, the Times Co. is seeking to shed its last major outside holding.”
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