The sale, for $70 million, would return the paper to local ownership after two decades in which it struggled to stem the decline in circulation and revenue. The price would represent a staggering drop in value for The Globe, which The Times bought in 1993 for $1.1 billion, the highest price paid for an American newspaper.You buy in at $1.1 billion and sell at $70 million... Let's figure the profit here: nothing from nothing, carry the nothing...
03 August 2013
Times Sells The Globe. Paul Krugman Hardest Hit.
The next time the The New York Times lectures us proles on how to run a successful business, remember - they suck at business: