Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!


Contact
Ace:
aceofspadeshq at gee mail.com
Buck:
buck.throckmorton at protonmail.com
CBD:
cbd at cutjibnewsletter.com
joe mannix:
mannix2024 at proton.me
MisHum:
petmorons at gee mail.com
J.J. Sefton:
sefton at cutjibnewsletter.com


Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups






















« Texas vs. California: 13% GDP Growth Over Past Five Years As Against Fool's Gold State's 0.3% | Main | Cloture Vote for Final Comprehensive Piece of Shit Fails to Garner 70 Votes;
Final Vote Also Garners 68 Votes »
June 27, 2013

New York Times to Unload Boston Globe For Less Than 10% of the Price They Bought It At

They bought the Globe for $1.2 billion. Seems incredible now, doesn't it? They hope to unload it for $100 million.

Making the sale more difficult is the fact that the NYT is currently on the hook for $110 million in pension liabilities, which a buyer might agree to pay for, but the New York Times wants... cash.

Let me throw my mind back in time to 1993 to see what I can remember. My memory might be wrong on this point, but I believe, at the time, there was quite a lot of belief that a company's brand recognition -- the size it occupied in "mindspace," I think was the sort of buzzword used -- was more valuable than any tangible asset.

There was a belief that all of these media companies were substantially undervalued and that they would own the future -- if "mindspace" is the big thing, then the most important companies would be not only those that cast a long shadow in the public's mindspace but whose business was actually colonizing the mindspace of their programmed drones customers.

If I'm remembering right, there were a lot of big media acquisitions and mergers between, say, 1988 and 1996. I had the feeling that a lot of companies trying to get bigger for the big Keiretsu Wars coming in the near Neuromancer-like future.

Yeah. Remember all the stupid things smart people used to believe?

I don't know how all of these mergers and acquisitions worked out. I think many of the entertainment companies are still profitable, though I don't know if particular purchases (like Sony's then-huge purchase of Columbia Studios) actually wound up making money for the purchaser.

It certainly does seem that newspapers and magazines were the big losers, and most people not named Rupert Murdoch who sunk lots of money into major "mindspace" newspaper properties took a bath.

I hear you can buy Newsweek for nickel.

I was going to say "Maybe I was just watching Rising Sun too much on cable." It turns out the movie version actually came out in 1993, when the NYT bought the Globe.



Now let's go find Eddie Sakamura, kohai.

Oh, and speaking of embarrassing auctions.

digg this
posted by Ace at 03:10 PM

| Access Comments




Recent Comments
Ace-Endorsed Author A.H. Lloyd: "It's like they spin a globe around and say "What i ..."

amber rose sex: "Once you have opened an person or team chat, fauce ..."

Krebs v Carnot: Epic Battle of the Cycling Stars (TM)[/b][/i][/s][/u]: "[i] And Kamala is off the stage completely. Post ..."

Ace-Endorsed Author A.H. Lloyd: "An independent Kurdistan would be yet another endl ..."

Huck Follywood: "Here I am, rawdogging the air again! Have a great ..."

m: "234 Like all ideas and plans from this world renow ..."

Ace-Endorsed Author A.H. Lloyd: "Evergreen. Posted by: m at December 08, 2024 08:5 ..."

Krebs v Carnot: Epic Battle of the Cycling Stars (TM)[/b][/i][/s][/u]: "[i] US foreign policy is run by [s]simpletons[/s] ..."

Tom Servo: "Like all ideas and plans from this world renowned ..."

eleven: "It’s like Alien vs Predator - fun to watch b ..."

Ace-Endorsed Author A.H. Lloyd: "We have no strategic interests in the region. We ..."

m: "222 Let's see here, when Trump was in White House ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64