Wall Street Manna

An irreverent look at Wall Street

Saturday, December 27, 2008

Who is sniffing around the NY Times?

A couple of weeks ago, this story got a little legs with Dvorak.
http://www.dvorak.org/blog/2008/12/13/will-google-buy-the-new-york-times/

Or with Splice:
http://splicetoday.com/politics-and-media/will-google-buy-i-the-new-york-times-i

And then the idea was taken up further here.
http://www.thedeal.com/dealscape/2008/12/could_the_stars_be_aligning_fo.php

In April, Google's CEO Eric Schmidt was asked about a purchase of the NY Times. He said:

I'm not aware of a proposal for us to buy the New York Times, but I'd never rule anything out.
http://www.portfolio.com/executives/features/2008/03/14/Google-CEO-Eric-Schmidt-Interview#page2

Now that the stock has been smashed to a hat size, the real question to ask is "Is the NY Times aware of any proposal?"

Now the NY Times is ready to sell the Red Sox, and The Globe. Many millions higher, and back before the NY Times cut their dividend, Jack Welch and a group were supposedly interested in The Globe. Why didn't the Times sell it then?

Now we know that the second richest man in the world, Mexican billionaire Carlos Slim, and huge NY Yankee fan, has accumulated a position the the NY Times.
http://news.muckety.com/2008/09/12/carlos-slims-buy-in-to-new-york-times-boosts-stock/4982

Now the Times is getting rid of the Boston Red Sox.

That's a move that Carlos Slim would approve!