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], the paper's parent, the big question is, what's next? Based on an e-mail alert The Globe just sent out, it appears the paper is business as usual, announcing a new editor of the editorial page, while the current editor becomes head of the Globe's editorial board. But will the Globe be around to have an editorial page?
Here comes a potential white knight for the Globe, which is on track to lose $85 million this year. Intercontinental, a Boston-based group with $2.5 billion in funds, including real estate and union pensions, has gone on the record saying its been pursuing the Globe for about ten weeks.
Late Wednesday, The Boston Globe reported that its parent company has retained Goldman Sachs [GS
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] to manage the possible sale of the newspaper and that it'll be taking bids over the next couple of weeks. Goldman isn't just trying to sell the paper, it's also looking to sell New England Sports Ventures, the parent of the Red Sox.
What is the historied Times Company thinking? We got a bit of insight last night when the newspaper's Executive Editor Bill Keller sat down with Daily Show reporter Jason Jones, who asked why the paper reports on "old news."
I was surprised to see such senior Times execs indulge in such a mocking interview while the paper struggles with declining revenues. The interview did get to the heart of the paper's problems -- it's an antiquated organization compared to the likes of Huffington Post. But good for them for having a sense of humor. Check out the clip.
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