Breaking: The New York Times Co. would maybe like to sell the tanking Boston Globe, the company revealed yesterday after everybody already knew it for months. More surprisingly, somebody might actually want to buy the paper!
NYT Co. executives are trying to be smooth about the whole situation, like "Hey, we could sell, sure. Or not. Whatever. If not, we'll just keep it. We like it. So yeah. But make us an offer, if you want. Or not. But you should. Just make us one. Do I hear a dollar? One dollar?"
In fact, they hear $35 million, according to the Globe! That's how much San Diego-based PE firm Platinum Equity's offering for the paper. They're the same forward-thinking contrarians who bought the San Diego Union-Tribune back in March! How did that go?
Three days after buying the Union-Tribune, Platinum laid off 18 percent of the staff, or 192 positions.