Poynter analyst hails Globe’s prospects

Rick Edmonds

Earlier this month, before the New York Times Co. announced it was putting The Boston Globe up for sale for the second time in four years, Poynter Institute business analyst Rick Edmonds sat down with Josh Benton of the Nieman Journalism Lab for the lab’s weekly podcast, “Press Publish.”

Toward the end of their nearly hour-long conversation, Benton asked Edmonds which newspapers he thought had the brightest prospects over the next few years. Edmonds responded that he could think of four major metros that were getting it right: the Globe, the Seattle Times, the Milwaukee Journal Sentinel and the Tampa Bay Times — formerly and still better known as the St. Petersburg Times.

(It should be noted that Poynter owns the Tampa Bay Times, although I think anyone would point to that paper as one model for how to do it right.)

What Edmonds meant: the four papers had done a better job than most of maintaining the quality and depth of their journalism while at the same time achieving some measure of success financially. Earlier in the podcast, Edmonds voiced his enthusiasm for flexible online paywalls such as the Globe’s (now becoming less flexible).

As another prominent newspaper analyst, Ken Doctor, observes, a lot of newspapers are likely to be sold in the months ahead. The business has recovered slightly since the depths of 2009 and prices are low. Of course, prices are low because the long-term prospects for newspapers remain grim. Still, there are no doubt a number of prospective owners who have enough money and ego to think that they will be the great exception.

Seen in that light, the Globe is a prime property that can be acquired for an attractive price. “The Globe isn’t going anywhere,” Globe columnist Kevin Cullen writes. “It’s changing owners.”

More pointless speculation on who will buy the Globe

There’s a name I left out in my earlier post on the possible sale of The Boston Globe: Rick Daniels, a former top Globe executive who, in December, left GateHouse Media New England, where he was president.

Not long after Daniels’ departure, I started picking up some buzz that he would emerge as part of a group interested in buying the Globe. And I see both the Globe and the Boston Herald mention him today.

No one has any idea what’s going to happen. But it strikes me that one possible scenario is an alliance joining Orange County Register owner Aaron Kushner; former Globe executive Stephen Taylor, part of the family that used to own the Globe; and Daniels. Kushner wanted the Globe at one time, still may, and has joined forces with Taylor in the past. Daniels worked for the Taylors. Why not?

Update: Your first must-read on the whole topic is Ken Doctor’s latest for the Nieman Journalism Lab, “The newsonomics of The Boston Globe’s sale.” Among other things, he guesses a sale price of $100 million to $150 million for the Globe and its related properties — 10 percent of what the New York Times Co. paid 20 years ago, not adjusted for inflation.