Did You Know...

   

Cash-strapped NYT tries to offload Boston Red Sox

Share
By Michelle Malkin  •  December 26, 2008 06:40 PM

The Fishwrap of Record’s bonds and reputation are in the tank. What to do? Sell, sell, sell!

Maybe if they had been spending more on letters editors than on baseball, they wouldn’t have gotten punked.

The New York Times Co., strapped for cash and facing shrinking revenue, is reportedly seeking to sell its stake in the Boston Red Sox baseball team.

The New York Times newspaper, citing “a person briefed on the plans,” reported this week that the Times Co. is “actively shopping” the company’s 17.5 percent stake in New England Sports Ventures (NESV), which owns the Red Sox.

Besides the popular Major League baseball team, NESV also owns their iconic stadium, Fenway Park, and 80 percent of the cable television channel which airs their games, the New England Sports Network.

The Times purchased the stake in 2002 for 75 million dollars.

Citing “two people familiar with the discussions,” The Wall Street Journal reported on Friday that the Times had indicated its willingness to sell at a meeting of NESV’s limited partners last month.

The newspaper said Barclays Capital has pegged the value of the stake at about 166 million dollars.
The Journal said the Times was seeking 300 million dollars for the stake in the Red Sox, one of the most valuable teams in the Major Leagues after winning the World Series twice since 2004.

Besides the flagship New York Times, the New York Times Co. also owns the International Herald Tribune, The Boston Globe, 16 other daily newspapers and other properties.

(link)

blog comments powered by Disqus
~ For the latest breaking news, be sure to join Michelle's Email List:
Posted in: New York Times

Nothing on Terry Bean

December 3, 2014 07:27 AM by Michelle Malkin

The New York Times’ war on gun-owning rape victims

October 31, 2014 08:28 AM by Michelle Malkin

New York Times Magazine makes Hillary a planet

January 23, 2014 01:59 PM by Doug Powers

hillaryhead

What the…?

Another: WaPo report contradicts NYT ‘no terrorist group connection to Benghazi attack’ story

January 8, 2014 12:31 PM by Doug Powers

hillary

Difference

Dueling Headlines; ‘Al Qaeda, other terror orgs not involved in Benghazi attack’ edition

January 5, 2014 04:00 PM by Doug Powers

hillaryalqaeda

Conflicting stories


Categories: Al Qaeda, Barack Obama, Hillary Clinton, Media Bias, New York Times

Follow me on Twitter Follow me on Facebook