Related: A Future Without the Boston Globe
"Two bidders visit Globe; third group may drop out" by Beth Healy, Globe Staff | September 15, 2009
.... Times Co. executives have said the Globe is on much firmer financial footing than it was several months ago, after raising prices for the paper, gaining $20 million in wage and benefit concessions from the newspaper’s unions, making cuts in management compensation, and saving $18 million by closing the company’s Billerica printing plant....
You know what we call that?
A Case of Newspaper Rape
Especially since right after the cuts, "the Times Co. reported second-quarter net income of $39.1 million"
Ouch!
Yesterday, in an upbeat companywide e-mail, chairman Arthur O. Sulzberger Jr. and Times Co. chief executive Janet Robinson said revenues have been bolstered by readers’ willingness to pay more for the Globe and the Times.
I'm at fault on the Globe. I still buy; otherwise, I wouldn't be posting because I wouldn't go there. Apu appreciates my business.
They wrote that “there have been far fewer cancellations from price increases than we expected at both The Times and the Globe,’’ and called reader retention rates for both papers “enviable’’ - about 90 percent....
Of course,
"Although Robinson emphasized that the company is on better financial footing, she said she could not predict when the Globe would be profitable again."
Oh, so they are STILL LOSING $$$$, huh?
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