Venture capitalist John Ellis, a former Boston Globe columnist who’s been nosing around the Globe situation for months, posted an intriguing tidbit [update: but apparently wrong; see below] on Twitter a little while ago:
there’s a rumor about that Platinum Equity declined to make a “final” bid on the Boston Globe. I wonder if its true.
If Platinum is out of the picture, that would presumably leave the group put together by former Globe executive Stephen Taylor as the only remaining interested buyer. But do Taylor and company have enough capital to get the New York Times Co. to say “yes”?
I also wonder if this might pave the way for a comeback by Boston businessman Jack Connors, whose proposal to take the Globe non-profit was left by the side of the road a few months ago.
Wednesday morning update: Well, so much for that rumor. The Globe’s Beth Healey reports that both groups submitted bids for the Globe, and that a third group submitted a bid for the Worcester Telegram & Gazette.
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A big thank you goes to the Unions and devoted employees as
The New York Times Co. said that it has decided not to sell and the company’s financial performance had “significantly improved.”
This is classic rhetoric.
Will the employees please stand and take a bow?
Will the real Janet Robinson please bring her payroll stub to show at tomorrow’s town hall meeting?
Does this mean that with employees giving in they are stuck with Janet and Arthur?
This is starting to look like a nice family-type business, isn’t it?