Wednesday, January 28, 2009

NYT Hired Goldman To Sell Red Sox Stake, Posts Horrendous Revenues

The distressed semi-Mexican company announced today it has hired Goldman Sachs to sell its 17.75% stake in New England Sports Ventures, which owns the Boston Red Sox, Fenway Park, 80% of New England Sports Network, and 50% of a Nascar Team. Guess that sale leaseback must not be going all that well.


In other news NYT posted December revenues which were, well, ugly

Ad revenues:
National media: -13.7%
Retail media: -13.3%
Classified media: -28.7%
Other ad revenue: -12.3%

About Group: -13.2%

Total Ad revenues: -15.7% Sphere: Related Content
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Anonymous said...

NYT at zero... would be utopia... we just don't need that type of one-sided divisive reporting anymore.