Cash-strapped NYT tries to offload Boston Red Sox
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.
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I’ll bid whatever they want, but I’ll need a bailout from the government soon afterwards.
Although I’ve always had my eyes on the Atlanta Braves, the Red Sox will do for now.
I think Big Papi should whack them all with a basebal bat and put them out of our misery.
Oh gosh, certainly the NYT has enough pals in the Congress and Senate that a teary-eyed plea for a bailout would be rushed through, no questions asked.
When a Newspaper is the story, things are not good. For too long this paper has been the story.
Like the Red Sox, the NYT could sustain 86 consecutive losing ($) years and still blame a “curse” rather than shoddy management for their losses.
Dump the paper – keep the Sox…
All things Red Sox suck.
If I owned a broken-down Pinto and a smooth-running Lexus, I wouldn’t sell the Lexus to subsidize the Pinto. Just sayin’.
Does anyone else see the irony of the New York Times owning a share of the Red Sox?
aj, I thought higher of you than that. If you say you’re a lifelong Yankees fan although you lived in Arkansas, I’ll wish you luck in your new Sec of State job.
I’ll give ‘em $50 bucks. They should consider themselves lucky since I’ll have to try to make money in Taxachusetts. But what the hey, I can always just walk away from it and let the tax man have it.
Maybe they should sell the paper and buy a bigger stake in the Sox. Methinks they might be selling the wrong thing.
Losers.
That my friends is the correct advice!!!
Angels fan John.
Yankee’s suck also. lol.
Death Spiral……
P.S. There is no baseball in the American League.
Hey now, lay off my Sox!
Ha! Must be one of those DH haters!
Hey, wanna buy Curt Schilling’s bloody sock?
As a life long Bostonian, I can not agree more
Ya think?
No thanks. Got anything from Tim Wakefield? Hoyt Wilhelm?
BOYS!!!
Let us not get “off track” and miss an opportunity to unite and revel in the thought of the timely demise of “The Slimes” as they sell off all their assets!!!
As a “born into it” Red Sox fan, I am appalled to find out that the Fish-wrap-of-record has a piece of The Team. Although I am “between jobs”, if asked, I shall do my part to remove this horrible stain on our team. (I wish it would also end the DH idea, but I know better than to ask for HUGE secular miracles.)
Tonight there has been numerous ads for 50% off a NYT 3 day a week subscription. I almost called the toll free number to give them a hard time but why bother. They must already know they suck.
On TV that is…
Maybe if the NYT stop being so anti-American and anti-military, it might sell a paper or 2. If not, then sell the NYT, keep the Sox. Of course, with the newspaper gone, the only way they could keep their message going is to call the Sox, the “Boston Socialists”. Come to think about it, it may work in Boston.
Couldn’t agree more, unless you were to change “Red Sox” to “Cubs”.
Here we go Brewers, here we go! *clap clap*
As comforting as it may be to see the NYT crash and burn, they aren’t unique; major newspapers are failing across the country. The Chicago Tribune – which broke the Blagovevich story – is in bankruptcy; The LA Times isn’t far behind; and The Detroit News and Detroit Free Press just announced that they are eliminating home delivery during the week. It was the Free Press (typically considered the more liberal of the two papers) that broke the Kilpatrick mayoral scandal wide open.
Biased or not, there is nothing to replace the reporters fielded by these newspapers. The much-vaunted blogosphere certainly can’t – they are little more than repeaters and extended opinion sections which gather little if any news on their own.
As printed newspapers fail, they are increasingly moving their content online – where they can still make some money, but where their main interest lies in reducing expenditures, as they eliminate publishing costs. And as they eliminate reporters, and increasingly become little more than outlets for an ever-consolidating pool of wire services. If the trend continues, within a couple of years all the news you run across will be produced by AP or Reuters. The wire services, in turn, are fielding fewer and fewer actual reporters, and rely almost entirely on press releases for their content instead of publishing actual news.
Overall, this trend is extremely disturbing. Democracy cannot thrive without access to information; what’s left is an ideological tyranny masquerading as democracy while perverting all it’s trappings through control of the media. And there is no replacement currently in sight – as noted, the blogosphere fields few, if any, reporters, and is largely a cheering section for the fringes on both extremes – in other words, a perfect tool for tyrants.
Be careful what you wish for.
I’d like to think the good ol’ American entreprenurial spirit will kick in and replace the debt laden news sources like the above mentioned with content people are willing to pay for (see reporting NOT opinion foisting).
My guess is, this is an opportune time for someone to ‘create’ a newspaper hybrid with no left-tard agenda.
Don’t kid yourself, there’s still a market out there for adults who like to read honest reportage, we just have very few choices right now.
The NYT continues to circle the drain may they soon go the way of the dodo bird.
ΜΟΛΩΝ ΛΑΒE (mo-lone lah-veh) Translation: Come and take them!
I for one would love to see the NYT go out of business. They gave up journalistic integrity some time ago. Josef Goebbels would be proud at how the Times turned out.
Maybe they’ll stay in business long enough to write their own epitaph.
Don’t know all the details behind them but what I’ve read over the past few weeks from the Baltimore Examiner has been pretty even keeled. Hopefully they can stay the course.
I quit reading newspapers years ago. Even the free ones that hotels put in front of my room doors.
And I quit actively watching pro-sports back when players started making $1 million/yr and then still went on strike.
The only pro-football games I have EVER been to, were gratis tickets. And I think I only paid for 3 baseball tickets 15+ years ago.
Never been to a hockey or basketball game.
Now refresh me as to why am I taxed for new stadiums?
You qualify for the Dragged Knuckle Award! Unfortunately that disqualifies you from any bailout money; your solution is not esoteric enough-sorry.
NYT, call George Steinbrenner.
Been a Sox fan my entire life. Suffered thru ‘75, ‘78, ‘86 (goddamit), ‘03, blah blah blah. As much enjoyment as it was to witness them win it (finally) in 2004, my joy was tempered by the knowledge that the leadership – Theo and the Trio – Theo Epstein, John Henry, Larry Lucchino and Tom Werner, are all moonbatty liberal goofs. Made me want to find another bunch of overpaid jackasses to root for.
No wonder the beers are warm and cost a flippin’ fortune!!!
Easy there, AJ!
Believe it or not, sometimes corporate welfare is blocked.
Angels fan John.
That explains it. Well, here’s to the continued success of your team against my Red Sox during the regular season.