Now you understand why the self-serving sports are so prominent in New England's flagshit.
"Times Co. sells part of holdings in Red Sox" July 02, 2011|By Beth Healy, Globe Staff
The Red Sox have been struggling lately, but the team is paying off for The New York Times Co., which yesterday sold a portion of its Sox holdings for a sizable profit.
The Times Co. reported that it sold more than half its holdings in the Fenway Sports Group, which includes the Sox, for $117 million, recouping more than what the media company spent on its entire original investment....
In addition to the baseball team, Fenway Sports owns the Liverpool Football Club, an English soccer team; about 80 percent of regional cable channel the New England Sports Network; and 50 percent of Roush Fenway Racing, a NASCAR team.
Now I see why NESN advertising is so prominent on the agenda-pushing Glob web site, and why the global-warmers never show up at auto races.
With yesterday's deal, the Times Co. said it expects to recognize a pre-tax gain of approximately $64 million on the sales, which it will report in the third quarter.
The Times Co. still hopes to sell the rest of its holdings in Fenway Sports....
That's the sign of someone who is in deep financial trouble. Why not keep a going concern?
The media company also owns The Boston Globe....
Related: Globe Employees Applaud a Rapist
The New York Times is the Exception to the Rule
And now they made more profit, Globe workers?
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Must be hard to right those stories knowing a baseball bat just penetrated your....
Related:
The away team
Anything on a cure?
Also see:
"Businesses feel lockout's bite; NBA impasse keeps Garden quiet, while bars, cafes lose cash" July 02, 2011|By Taryn Luna, Globe Correspondent
Just over two weeks ago, bars and restaurants around TD Garden were reaping the economic rewards of the Bruins championship season, but their late spring bonus could be wiped out this fall by the National Basketball Association lockout, which could result in Celtics games being canceled.
NBA owners imposed a lockout early yesterday after they and the league's players union failed to agree on a new collective bargaining agreement, bringing the league to a halt. It's unclear if or when the dispute will be resolved, but a lockout during the 1998-99 NBA season caused 32 of 82 regular-season games to be scrapped.
A similar labor dispute derailed the entire 2004-05 National Hockey League season, causing huge losses for eating and drinking establishments that depend on game-day crowds swarming around the Garden....
Is that what our economy should be based on, the generosity of the wealthy and their circuses?
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Related: No NBA At Midnight
