The Boston Globe is back on the block!
"Businessman prepares bid to buy Globe" April 29, 2011|By Casey Ross, Globe Staff
A spokeswoman for the Times Co. declined to comment. The Times Co. previously tried to sell the New England Media Group and received three offers in 2009. However, the company took the papers off the market as financial conditions began to improve....
Kushner and his investors have been unwilling to divulge details on how he would change the newspaper’s business model, but some have said it generally involves expanding the marketing of the newspaper and developing new products to connect readers to advertisers. The goal would be to help the newspaper generate stronger revenues and allow it to expand its news gathering and content.
Globe not doing that because that doesn't seem that radical a business model. Sounds like same old, same old.
Kushner also declined to say whether his eventual bid will include the assumption of the Globe’s pension liabilities.
The Globe, like other newspapers, is grappling with how to grow revenues as readers and advertisers migrate to the Internet. In the first quarter of the year, revenue at the New England Media Group was down 5 percent, to $96.4 million.
Still that performance has improved significantly over the past several years.
I love it! Less water pouring into the boat, but the Titanic is still going down.
And the band played on....
Importantly, the company cut expenses substantially through staff reductions, labor concessions on wages and benefits, as well as plant consolidation.
Yes, an ever-increasing share of a shrinking pie is a great business model -- especially if you can wring profits out of it by downsizing.
I thought businesses had to grow to be successful. Silly me.
Related: The New York Times is the Exception to the Rule
Globe Employees Applaud a Rapist
I'll bet it feels like one now.
Also, a significant price increase helped offset declines in advertising revenues.
Yup, paying more for less of what already is a PoS paper.
--more--"
And now they want me to pay again for web access.
Pfffffffft!
