This weekend, The New York Times Co. sold the Boston Globe to John W. Henry, the owner of the Boston Red Sox. Henry paid $70 million. (Or negative $40 million, by more realistic calculations.) Oddly, several other bidders made higher bids than Henry. Why did the NYT Co. leave that money on the table?
In 1993, the New York Times Co. paid $1.1 billion for the Boston Globe. Hahaha. Ha. Whew. Sorry. The Globe's been a huge financial drag (as you'll recall from one of our least popular posts of 2009), They've been trying to unload the paper for a few years now. Now, they may have actually found a