August 7, 2013
Is the clock ticking on a New York Times sale?
Morale at the New York Times took a further blow when news broke of the sale of the Washington Post to Jeff Bezos. Inevitably, a potential sale of the Times to another mega-billionaire seeking prestige and political clout becomes a topic of conversation. Today, Politico, the Washington Post, and others are openly discussing the subject. After enduring a series of cutbacks and very well aware that the company's business model has failed, the NYT's staff confronts the possibility of becoming a luxury plaything or worse. Human nature being unchangeable, members of the Sulzberger/Golden clan are comparing their fortunes to those of the Graham clan that has just sold what was once the foundation of their wealth. They must have accumulated a lot of resentment, conscious or unconscious, over the inept performance of Pinch Sulzberger, the designated heir who squandered over a billion dollars of their wealth on the acquisition of Boston and Worcester newspapers just as the internet was...(Read Full Post)