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....
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.
ReplyDelete