Yup, SELF-SERVING AGENDA-PUSHING at its finest!
"Times Co. reportedly trying to sell stake in Sox; Need to pay off debt could be a big factor" by Todd Wallack, Globe Staff | December 25, 2008
The New York Times Co. is actively trying to sell its stake in the Boston Red Sox, according to a person familiar with the matter.
That explains all the "rivalry" promotion in the papers; just like world wars, Zionist-controlled interests funding both sides!!!
The media company has repeatedly declined to say whether it is considering selling its Sox stake. But some investors have pushed the company to sell some of its noncore assets to raise cash and reduce debt as it struggles with declining advertising revenue.
:-)
As recently as Dec. 9, chief executive Janet Robinson said the company planned to make some divestitures, without giving details. Red Sox spokeswoman Pam Ganley declined to comment, citing the club's policy to avoid commenting on ownership issues.
In addition to The New York Times, Times Co. owns The Boston Globe, the Worcester Telegram & Gazette, the International Herald Tribune, About.com, and 16 smaller newspapers.
No wonder all the newspapers around here suck.
The company bought its 17.5 percent stake in New England Sports Ventures LLC, the holding company that owns the Sox, Fenway Park, and 80 percent of New England Sports Network, for $75 million in 2002. It was part of a consortium led by billionaire hedge fund investor John Henry that paid roughly $700 million for the team.
You know, until the war-promoting, agenda-pushing papers and the enviro-cultists start PROTESTING the WAR MACHINE and NASCAR, well, I don't want to hear the.... what's that? Whatcha say?
"NASCAR coverage was also expanded on the cable channel New England Sports Network, which is owned by New England Sports Ventures, the parent company of the Red Sox and Fenway Sports Group. The New York Times Co., which owns The Boston Globe, holds a 17 percent stake in New England Sports Ventures."
Yeah, TELL ME AGAIN about GLOBAL WARMING and the ENVIRONMENT!!
What a CAST of F****** HYPOCRITES!!!!!!
It's unclear how much money the Red Sox stake is worth. Reuters reported this month that the Red Sox share could fetch at least $200 million, citing analysts. But Marc Ganis, a Chicago sports consultant, said yesterday it is a poor time to sell a sports team....
Nice timing, Times!! Ha-ha-ha-ha!!!! They won't be getting any help from me!!
I QUIT PURCHASING THEM LAST YEAR after decades of faithful patronage, and NEVER WILL AGAIN!!! That's what happens when you shovel s*** lies!!!
It's unclear how fast a sale could occur, but Times Co. has a $400 million line of credit that has to be paid off or renegotiated by May, which could put pressure on the company to raise money....
Makes you wonder why they don't get after the banks in their pages, although not really. Actually, I wouldn't know because I have not even visited the Times' web site for weeks!!!!
--more--"Flashback:
"Times Co. may borrow against building" by Bloomberg News | December 9, 2008
The New York Times Co., facing a $400 million debt repayment in May, may borrow as much as $225 million against its Manhattan headquarters.
:-) The NYT in DEBT to BANKS?!!!!!
Oh, man, they don't put these in here to make me feel good, do they?
The third-largest US newspaper publisher hired commercial real estate firm Cushman & Wakefield Inc. to help obtain financing through a mortgage or a sale-leaseback agreement, spokeswoman Catherine Mathis confirmed in an e-mail.
How much you wanna bet THEY GET ONE?
The Times Co., which finished the third quarter with $46 million in cash and equivalents, must refinance or repay a $400 million credit line that expires in May. The company has about $366.3 million remaining under a second credit agreement that becomes payable in June 2011.
To make up for declining advertising sales, the publisher of the namesake newspaper and The Boston Globe, slashed its dividend by almost three-fourths last month and has also eliminated jobs. The company has $672.5 million in long-term debt.
Which makes you WONDER about the COVERAGE? Unless the elites that run the paper care only for their INVESTMENTS, and not the PRODUCT they allegedly love!!!
The Times Co. reported the plans for its building yesterday, citing chief financial officer James Follo.
The day the Times dies is a day I will applaud!
