The Boston Herald always delights in any adversity visited upon the Boston Globe. So it was no surprise that Wednesday’s Schadenfreude Gazette framed the upcoming sale of the stately local broadsheet in the least promising way possible.
It’s time to sell the Globe
Bids due tomorrow for daily as experts say price won’t be high
Tomorrow is D-Day at The Boston Globe, as bids for the newspaper’s pending sale are closed by parent company The New York Times, and analysts tell the Herald their expectations for a blockbuster selling price are low.
“I can’t believe it’s making much money, if any money,” said Edward Atorino, a media analyst with the Benchmark Company. “Circulation is declining. Advertising is struggling. Boston online hasn’t really set the world on fire.”
Media expert Ken Doctor of Newsonomics predicted the Globe could sell for between $75 million and $150 million — a far cry from the $1.1 billion the Times paid for the paper in 1993.
Oh, and on the way out, don’t forget to tweest . . .
Read the rest at It’s Good to Live in a Two-Daily Town.
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