Julia Angwin of the Wall Street Journal writes a devastating analysis ($link) of the billion dollar boo—boo Pinch Sulzberger made when he bought the Boston Globe and related properties. When the New York Times Co. bought the Boston Globe in 1993 for $1.1 billion, the family—run New York newspaper said it was betting heavily on the future of the highly educated, affluent Boston market. But now that brainy, well—heeled populace turns out to be on the leading edge of a digital migration that is pummeling the Boston Globe so badly that it is on track for its first unprofitable year in its recent history, according to people familiar with the company's finances. The Globe quietly cut its news hole a whopping 10% and has started putting ads on the front pages of its sections, but ads and revenues are still plummeting. Perhaps Pinch, who attended Tufts University as an undergrad (and apparently still carries with huim his 1960s values), craved the approval of the Boston...(Read Full Post)