The New York Times suffered a revenue decline of 18.6 percent in the quarter and a net loss of $0.34 per share excluding charges. (See embedded Reuters report below for more details.)
With ad sales worsening and money tight, will the New York Times sell another Alabama newspaper? The AP raised that question in its NY Times earnings preview Monday (see below). “The Times Co. is still hoping to raise another $150 million or so by selling its 17.8 percent stake in a partnership that owns the Boston Red Sox. Other smaller newspapers published by the company in Massachusetts, Alabama, California, Florida, Louisiana, North Carolina and South Carolina conceivably could be put up for sale, although buyers are currently scarce,” the AP wrote.
Earlier this year, the Times sold the Florence Times Daily to a private newspaper group for an undisclosed amount. (Read report on the sale here.)
This is of interest to Alabama fans because the New York Times Company owns the Tuscaloosa News. Here is a thought, maybe Boone Newspapers, the group that once leased the Tuscaloosa News, could buy it and run it. The Tuscaloosa News is a valuable property for several reasons, but Tidesports.com has to be considered a property with immense growth potential.