The New York Times Company Message Board
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ASSET SALES MADE TO KEEP FROM BANKRUPTCY
These are just some not all of what NYt has sold to avert BK. More to come in the future for this RAG.
Thirteen dailies and one weekly newspaper primarily in the Southern United States, including titles in Alabama, California, Florida, Louisiana, North Carolina and South Carolina.
The Gadsden Times of Gadsden, Alabama
The Tuscaloosa News of Tuscaloosa, Alabama
Petaluma Argus-Courier of Petaluma, California (weekly)
The Press Democrat of Santa Rosa, California
The Gainesville Sun of Gainesville, Florida
The Ledger of Lakeland, Florida
Sarasota Herald-Tribune of Sarasota, Florida
Star-Banner of Ocala, Florida
The Courier of Houma, Louisiana
The Daily Comet of Thibodaux, Louisiana
The Dispatch of Lexington, North Carolina
Times-News of Hendersonville, North Carolina
The Star-News of Wilmington, North Carolina
Spartanburg Herald-Journal of Spartanburg, South Carolina
[edit] Broadcast Media GroupWQEW Radio 1560am licensed to New York, New York, sold to The Walt Disney Company and is now an affiliate of Radio Disney.
WQXR Radio 96.3fm licensed to New York, New York, sold to WNYC Foundation, moved to 105.9fm and City of License changed to Newark, New Jersey.
KFOR-TV Channel 4 in Oklahoma City, Oklahoma sold to Local TV, LLC.
KFSM-TV Channel 5 in Fort Smith, Arkansas, sold to Oak Hill Capital Partners
WHO-TV Channel 13 in Des Moines, Iowa, sold to Local TV, LLC.
WHNT-TV Channel 19 in Huntsville, Alabama, sold to Local TV, LLC.
WNEP-TV Channel 16 in Scranton-Wilkes-Barre, Pennsylvania, sold to Local TV, LLC.
WQAD-TV Channel 8 in Moline-Rock Island, Illinois, Sold to Local TV, LLC.
WREG-TV Channel 3 in Memphis, Tennessee, sold to Local TV, LLC.
WTKR-TV Channel 3 in Norfolk, Virginia, sold to Local TV, LLC.
Fenway Sports Group (7%)
How much did they sell for? NOT ENOUGH, this RAG is still GOING BANKRUPT!!!!!!!!!!Sentiment: Strong Sell
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You are truly an idiot "antacular". The New York Times paid $1.1 billion for the Boston Globe newspaper in 1993. Today they're trying to sell it for about $150 million. They won't even get that much. Another asset sell and morons like "antacular" still acting like it's a good thing. Might just wake up the incredibly stupid, low information investors like him. Lower revenue is NEVER a good thing. SELL SELL SELL, just like NYT does with all their assets, investors should do the same.
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Revenue increasing: check. Continuing operations income increasing: check. Subscriptions (both circular and digital) increasing: check. Free cash flow increasing: check. Early pay down of debt: check. Lack of any sort of longterm debt: check.
Check the numbers again, they still would've had a profitable quarter even if they didn't have the asset sales. And the ones you listed have been sold off over the past several years, not just this quarter. And selling off regional local newspapers is a SMART move since it's those that are going to suffer the massive declines, not a namebrand like the NYT, WSJ, or WashPost.
You're a moron. Go buy a USA Today instead toolbag.Sentiment: Buy
- 1 Reply to antacular
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I am not sure, but it looks like they still do have a lot of long term debt or other things that could be considered like long term debt. The last 10-Q report, for the period ending 09-23-2012 lists:
Other liabilities
Long-term debt and capital lease obligations $701,678,000
Pension benefits obligation $830,868,000
Postretirement benefits obligation $100,248,000
Other $154,537,000
Total other liabilities $1,787,331,000
Why do you think NYT has no long term debt?
Louis J. Desy Jr.Sentiment: Sell
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