lockmat Posted May 1, 2009 Share Posted May 1, 2009 Arthur "Pinch" Sulzberger faces the uncomfortable task of having to shut down the Boston Globe today if holdout employees refuse to fork over $20 million in savings to his family. ...Another widely discussed option -- selling the 137-year-old Boston paper -- seemed less likely as potential buyers waved off any thoughts of owning the admired money-pit. ..."It's like trying to catch a falling knife," said Jack Connors, the former head of Boston ad agency Hill Holliday, who was part of an attempt to buy the paper several years ago. "I'm not a buyer" because of the Globe's uncertain future, he added. "I don't know whether there's an economic reason to own it." The Globe was on track to lose $85 million this year unless changes are made, The Times said. That follows losses of $50 million last year. http://www.nypost.com/seven/05012009/busin...imes_167023.htm Link to comment Share on other sites More sharing options...
LTAWACS Posted May 1, 2009 Share Posted May 1, 2009 I heard about this the other day. I've never read them so it would not matter to me. Link to comment Share on other sites More sharing options...
lockmat Posted May 1, 2009 Author Share Posted May 1, 2009 I guess their other major newspaper is the Herald, right? Link to comment Share on other sites More sharing options...
gnu Posted May 1, 2009 Share Posted May 1, 2009 I guess their other major newspaper is the Herald, right? yeah...but the herald is a tabloid - similar to the nypost. the globe is owned by the nytimes and is considered a "serious" newspaper. just what i have heard. Link to comment Share on other sites More sharing options...
KinkaidAlum Posted May 2, 2009 Share Posted May 2, 2009 Wow, if the Boston Globe gets shut down by the NY Times Co. then I can't imagine what is going to happen at the next Yankees/Red Sox game at Fenway!New Englanders are very proud of New England. I laugh all the time because of the stereotypes they hold of Texans when they very much share the same characteristics (overly proud of place, wary of outsiders, hatred for "Yankees", etc...).As a 12 year resident of Boston, it will be a shame to see the Globe close. It is a very solid newspaper with a long history and a wide following. The Herald; not so much. The Herald is kinda like The Houston Press but somehow manages to be a daily.That said, IF the Globe gets shut down, look for other papers to follow. New technology is killing the paper. Who wants to read tmrw. what they can read today on-line? Who wants to read about tmrw's scores when they can see them tonight on ESPN? Who wants to pay for what they can read for free? Link to comment Share on other sites More sharing options...
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