Boston Globe sells for less than a Series B high tech financing
The New York Times has sold the Boston Globe to Red Sox owner John Henry for $70 million. For those keeping score, that's 93% less than the Times paid for it in 1993 (Hat Tip: Memeorandum).
Here are some interesting comparisons with the price paid for the Globe. Among them is the following:
3. HootSuite, a Twitter and Facebook utility, raised $165 million in its Series B round.Who says the blogosphere is irrelevant compared with the legacy media?
By the way, $70 million is pocket change for Henry. The same item says that the Red Sox are worth $1.3 billion - which is more than the Times paid for the Globe in 1993.
Happy to see the Times lose money....
Labels: Boston, Boston Red Sox, New York Times
posted by Carl in Jerusalem @ 9:38 PM
1 Comments:
My read on that is that the money came from Obama's SuperPAC and now the newspaper will be an official albeit covert arm of the White House.
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