The New York Times Company is trying to sell off the Boston Globe yet again. The Times acquired the Globe for $1.1 billion in 1993 and tried unsuccessfully to sell it in 2009.
“Our plan to sell the New England Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New York Times brand and its journalism,” said Times CEO Mark Thompson. Politico has an internal memo to Times staff which says “this was not an easy decision.”
Its great to see that the NYTimes Company is finally selling the assets that arent around their core business, but I still think holding on to strong brands like Boston.com is going to be worth it in the long run.