The NYT is pretty close to dead itself. Advertising is dropping like a rock, they're a billion dollars in debt, their cash reserves are $46 million as of October, and their options are looking increasingly desperate (there's a good article on it here: http://www.theatlantic.com/doc/200901/new-york-times).
So, the Globe, which is losing a million dollars a week? They want it off the books in case they have to sell themselves.
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Date: 2009-04-01 06:06 pm (UTC)The NYT is pretty close to dead itself. Advertising is dropping like a rock, they're a billion dollars in debt, their cash reserves are $46 million as of October, and their options are looking increasingly desperate (there's a good article on it here: http://www.theatlantic.com/doc/200901/new-york-times).
So, the Globe, which is losing a million dollars a week? They want it off the books in case they have to sell themselves.