newspaper economic

NYTimes Going on Sale? Anyone Need Some Used Socks?

interesting observations, promoted -- cho

A couple of days after the New York Times, according to some, helped the Public Integrity Section (PIS) of the Bush Justice Department shaft Spitzer the stories start going the rounds again about how vulnerable the Times is to a takeover. This one came up this morning.Firesale at the Times. The story has some legs of its own because the hedge fund group that is accumulating shares (Harbinger) now has a bigger position than the NYT’s family owners. The structure of the company prevents them taking over ownership directly but they are now in a position to do a lot of damage to the share price. Judging from the shares’ price performance over the last few years that’s probably not something that will impinge too much on the thinking of the paper’s present ownership.