New York Times sells Boston Globe at fantastic loss.
"After purchasing the Boston Globe in 1993 for a then-record $1.1 billion, the financially troubled New York Times just announced that it sold the 141-year-old paper to Boston Red Sox owner John Henry for a mere $70 million. That's a straight 93% loss. Figuring in two decades of inflation would only make it worse -- as does the fact that the Times retains the Globe's pension liabilities, estimated at over $100 million."If you factor in the pensions, that's more than a 100 percent loss.
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