Boston Globe sells for 70 million after being bought for 1.1 Billion in 1993
 

John Henry, who already owns the Boston Red Sox, has now entered into an agreement to buy the city?s newspaper, the Boston Globe said Saturday. The paper has been on the market since February. It was put up for sale by The New York Times Company, which bought it in 1993 for $1.1 billion. So what?s the current going price for a Boston newspaper? Roughly 70 million dollars?just seven percent or its worth two decades ago. The all-cash sale is expected to close within 30 to 60 days.

news papers are on the way out
at least in their current form.

Wow, a major daily newspaper in the 5th largest media market in the US only worth 70 million dollars. In 10 years it will probably be worth 10 million.

Question is how far away are we from major newspapers ceasing to put out a print edition of their newspapers?

For every 1 million craigslist made with their business model, the newspaper and media industry lost an estimated billion.

The ways things are going with automation and efficiency; wages will stagnate and we will be able to support more people on unemployment.

Americans don't really need the news anyway. 24/7 reality shows will do the trick.

and most likely bought as a tax shelter and for the write offs :)

Way overpriced at 70 million. I'd say fair value is about 10 million.

Guess I should not feel too bad about losing 40k on a house then

yeah that's what I thought. but also to control the image of the Red Sox in the print media (and their online versions) in the publications that were acquired?

the acquisition also included a direct mail company, more dead weight.

Some of the dumbest shit I've ever read here :2 cents: