Wednesday, October 20, 2010
Let's Guess The Price
I believe last year, before some union concessions, the best bid for the embattled Boston Globe was 0$ - i.e. just an assumption of debt and liabilities. (Recall Newsweek sold for only $1.)
Valuing the Globe is really beyond my skill-set as I simply don't know how ironclad the union contracts are. Though I'm quite sure the paper with the old salaried-journalist model is in fact worthless.
Someone in a comment thread made a remark about the political persuasion of the buying group and that leads me to believe that this prospective buyer is a consortium of new Boston Morons. So I will skew my bet accordingly high.
I say they'll bid $40 million - even though I think it's probably worth more like $15 million, at best.
One note about the salaried-journalist model...
I would write for the Globe from home, in my briefs, if they paid me, say $100 per article for 100 articles over the course of a year. They could offer that ten grand to scores of eager and talented bloggers and aspiring journalists and produce much better content at a fraction of their current costs. They'd save handsomely on healthcare, office rent, technology, etc. I'd gain stature, exposure, even more ego, and I'd drive traffic to my website.
Of course the current management would NEVER do something as *liberal* or as intelligent as this.
And I sincerely doubt the next one will either.
Boston Globe - Full of Nothing!
Bob Ryan - Defining Joke
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Boston Globe - A New Nadir.
Hard Evidence Smacks Globies In The Face!
Newspapers - There Goes *Internet Growth*