The quote of the day comes from Boston Globe columnist Alex Beam, who tells the New York Observer what would be wrong with a Jack Welch-led buyout of the Globe: “Jack Welch and David Geffen’s idea of journalism is like a Charlie Rose interview. ‘Gosh, Mr. Welch, tell us more about your fabulous career.’ That’s not our idea of journalism.”
Geffen, of course, is the entertainment-industry mogul who wants to buy the Los Angeles Times from the Tribune Co.
The Observer reports that New York Times Co. chief executive Janet Robinson will meet with the Globe staff on Feb. 8 and 9 to address the recent spate of bad news coming out of Morrissey Boulevard, including the closing of foreign bureaus, 125 job cuts at the Globe and at its sister paper, the Worcester Telegram & Gazette, and the company’s recent decision to devalue the Globe and the T&G by more than $800 million.
The Phoenix’s Adam Reilly has a good roundup here.
The questions all along have been two-fold: Will the advertising climate in Greater Boston turn around? And will the Times Co. sell?
It appears that Robinson is going to tell the troops “yes” and “no.” And that would be moderately good news. If you consider what’s going on in the newspaper business right now, continued Times Co. ownership might well be the least bad alternative.
Something (or someone) better might come along in two to five years. But for now, the Times Co. is probably a safer bet to preserve the Globe’s core local mission than any other prospective owners.
And kudos to Beam for dissing a zillionaire who could still somehow wind up as his boss. (Via Romenesko.)