New York Times Does the Filene Basement Thing
December 27, 2011
Newspapers used to produce oodles of cash. Now most smaller and regional newspapers are walking a knife edge. I just read about the fire sale at the New York Times. The gray lady dumped a bundle of newspapers at a Filene basement type price. What happened to Filene’s? Well, check it out.
The article is “Times Co. Agrees to Sell Regional Newspaper Group”. The price for 16 newspapers is alleged to be $143 million. Not quite the $1 that Newsweek commanded, but a deal nevertheless.
What will the gray lady do with the cash? Maybe go shopping for some new digital duds. Will the bits and bytes return the gray lady to the apex of excellence? Might be a long shot. New president needed. New head of digital stuff needed. New products and services needed. Quite a few needs.
Stephen E Arnold, December 27, 2011
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