It may have nicely avoided bankruptcy, but it’s no exaggeration to say The New York Times Company (NYT) has to sell the Boston Globe in order to survive in its present form. Still, don’t expect chairman Arthur “Pinch” Sulzberger Jr. to sell the paper to just anybody.
In an interview with the Globe itself, Pinch said “Price is not the only consideration.” He hinted the new owners might also have to promise they won’t fire everybody.
To be fair, what else was the guy going to tell the nervous reporter across the table from him?
Q. Are you simply going to sell [the Globe] to the highest bidder? Are there other things you are evaluating besides price?
Sulzberger: Price is not the only consideration.
Q. Do we have to worry about a San Diego [Union-Tribune] situation, sold to the highest bidder, a private equity firm, that three days after the sale made big staff cuts?
Sulzberger: What I urge you to look at is our history when we have sold properties in the past. We recognise there’s a concern. We love the Globe. We managed this property, this newspaper, for a long time.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.