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The New York Times Company Sells the Boston Globe at a 96% Loss

Written by Gary North on August 5, 2013

The New York Times is often referred to as the gray lady, famous for its abundance of words over photos and its bland, boring prose. These days, there is so much red ink at the Times that it ought to be called the pink lady, at the very least. Conservatives have thought it should have been called the pink lady for the last 70 years.

The New York Times Company bought the Boston Globe in 1993 for $1.1 billion. It just sold it for $70 million. But we must factor in price inflation. At 1993’s prices, the Times Company paid the equivalent of $1.75 billion today. So, the company lost a staggering 96%.

This shows where print newspapers are headed: down. This also shows where the New York Times is headed: down.

The Times is liberal. It is the voice of American liberalism. When it finally shuts down, the voice of American liberalism will then be something else. It will have less prestige. It will have a smaller following. It will not have three generations of tradition to back it up.

American liberalism has bet the farm on three institutions: newspapers, network television, and the education system. All three are under assault by the Internet. The profits are shrinking for newspapers and network television.

One by one, print newspapers are dying. The wide variation of opinion on the Internet is drowning out the once-monopolistic voice of liberalism.

It’s not 1953 any more. It’s not 1963. It’s not even 1993. Just ask the New York Times Company.

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9 thoughts on “The New York Times Company Sells the Boston Globe at a 96% Loss

  1. Print journalists finally getting the come-uppance they so richly deserve.

  2. Perry Muir says:

    It is right and just, hopefully the times is next.

  3. When the the NYT finally does cease operation, its surviving newsprint competitors will diligently report the event…24 hours later, of course.

  4. Carl Benander says:

    I, an independent, was a faithful reader of the Globe for decades. Finally. somewhere in the 90's, I was so disgusted by it's blatant coloring of the news to fit it's Liberal views; I stopped reading it.
    In Kenya, while a Peace Corps Volunteer, a visitor from home brought me a Sunday Globe. I read it cover to cover and loved the quality of the writing. Then, I realized why I no longer bought it. It was more distressingly Liberal than ever. Stupid bylines like, Kerry wants more cuts to programs, etc. He, along with Kennedy, only advocated expansion of benefits, not cuts.
    I can't speak for others but when a newspaper which is supposed to furnish unbiased facts to the reader, not outright lies, lowers itself to be a spokesman for a particular party or philosophy, people like myself see this and will never support it by paying for a subscription.

  5. Schadenfruede – it's a nice compact way of saying, "Into the Trash Can of History they go!"

    Just as well – they were not an "independent press" anyhow. They were the House Organs of whoever owned them or were friends of the Owners.

  6. Next to go, I hope – CNN.

  7. Poodleguy says:

    When most of what you have to offer for sale is garbage, sooner or later you will find that it isn't a desirable commodity. It has taken a long time to get to this stage of failure for the left wing media & it's final collapse will take some time, but it will surely collapse in time…….

  8. The Bible and the CIA motto says it best: " The truth shall set you free. " Lefty-loosies cannot stand the truth. Hasta luego, pendejos. The guy who bought it overpaid, even if the price might have been one paltry dollar.

  9. Why would the N. Y. Times Co. sell? I though they had a perfect symbiotic relationship with the government . . . “you bail us out and we bail you out.”