New York Times Co. Holds Boston Globe Hostage Until Paper Agrees to Their Demands
Arthur Ochs Sulzberger, Jr. Is a Great Bond Villain Name
 

bostonglobe
Bitchery most foul! The New York Times, prize and gem (and namesake) of the New York Times Company gets this $120 million dollar bailout from some Mexican investor, and meanwhile the corporation's other paper is being slowly strangled to death. The Boston Globe has been hemorrhaging funds of about $85 million per year, and now NYT Co. will shut it down…unless the paper's unions agree to $20 million of cost-saving cuts. That's about 300 jobs cut, in total, take it or leave it, otherwise you're all out of work.

Meanwhile, The Times Co. as a whole had a 48% drop in net income during the fourth quarter, and has made plans for a 5% paper-wide layoff at The Times. Still, you can bet that no matter how much the Grey Lady loses in profits, the Sulzbergers would rather see their flagship burn to the ground before they are forced to shut it down or declare bankruptcy. Unfortunately, that's becoming more of a possibility by the day.

Apr 6, 2009 · 173 views (beta) · Link · 3 Responses
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Comments (3)

No. 1 · fanofgrendel

Ah, the champion of all liberal papers wants to crush the union. Shoe is on the other foot when its your money.

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Posted: Apr 6, 2009 at 6:02 pm · @Reply · [Flag?]
No. 2 · fanofgrendel

Not everyone really likes Sally.

sally%20field%20union.jpg

Posted: Apr 6, 2009 at 6:03 pm · @Reply · [Flag?]
No. 3 · fanofgrendel

They just need to see the paper to Rupert Murdoch. A little content fiddling and he might make a success of it.

rupertmurdoch.jpg

Posted: Apr 6, 2009 at 6:06 pm · @Reply · [Flag?]
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