Adam Reilly hears from 24/7 Wall Street blogger Douglas McIntyre, the guy who listed the Boston Globe as one of 10 newspapers that might fold or go online-only in 2009.
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Adam Reilly hears from 24/7 Wall Street blogger Douglas McIntyre, the guy who listed the Boston Globe as one of 10 newspapers that might fold or go online-only in 2009.
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TomW
As much as I hate to say it, McIntyre may have a point. The “value” of the Globe may not be as low as $50 million, but probably not $200 million either. As they say in the real estate business, the value of a property isn’t want the seller thinks it ought to be; it’s what a buyer is willing to pay and the seller is willing to accept.
O-FISH-L
Does Howie Carr allow inanimate objects to be entered into the Death Pool? I’ll take the Globe, with Ernest Borgnine a close second.Clearly, the end of the Globe is no longer a matter of if, but when. The worry about McIntyre’s methodology seems a bit like the proverbial shuffling of deck chairs on the Titanic.If they build the condos high enough, Morrissey Boulevard could have some nice water views.
Amused
Let us not get carried away. This guy is also predicting the demise of the personal computer/Let’s also call it what it is: A bid for publicity. There is little the media like better than picking at the remains of failed competitors, so any rumblings of a paper suspending publication get a lot of attention with the source of the predictions at the center of the storm.Some of his list is a no-brainer. Hearst got involved in a terrible deal in San Francisco in which it not only overpayed for mornings, it sunk a bundle into propping up its former property as a freebie. Detroit cannot sustain a two-paper JOA much longer; Philly and Chicago may no longer support two papers, in part because of relatively strong suburban competition.. As for the Globe, I still havent’ seen the “several accounts” that claim it is losing a million a week. I’ve seen one such claim. Interesting, though, that none of these experts buys a share of NYT Co., shows up at the annual meeting, and puts the question directly to the chairman.
Dan Kennedy
Amused: The claim that the Globe was losing $1 million a week was direct — from Globe management. But since that claim was made to the union, it needs to be verified.Anyway, that was last summer. The Globe has implemented a lot of cuts since then, and is about to do more. On the other hand, the economy is much worse. So who knows?
ron-newman
And none of those cuts make the newspaper more attractive to either readers or advertisers, so they are a step in the wrong direction.