NY Times hires Goldman Sachs to sell interest in Red Sox

Musings on Adam Dunn
Open Thread: Getting what you pay for

I’m sure I’m not the only one who thinks it strange that The New York Times Company owns a stake in the Boston Red Sox. It’s not only that, though. They own 17.75 percent of New England Sports Ventures, which also includes a stake in Fenway Park, 89 percent of NESN, and 50 percent of NASCAR’s Roush Fenway Racing team. This morning, NYTCo announced that they’ve hired Goldman, Sachs & Co. to “explore the possible sale” of this asset.

Hey, maybe this is where Mark Cuban gets his in…

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Musings on Adam Dunn
Open Thread: Getting what you pay for
  • jsbrendog

    just the red sox or all of their new england sports holdings?

  • Mike Pop

    I hope Cuban never has anything to do with the Red Sox.

    • huuz

      tru dat

  • http://www.puristbleedspinstripes.com Rebecca-Optimist Prime

    You know, I know the TImes was in trouble but I didn’t realize it was this bad.

  • Januz

    I wish the NY Slimes oops Times gets sold to Fox. I dislike their entire newpaper in particular politics and sports. However, I give the Globe an A for Sunday baseball coverage.

    • http://thebronxzoo.wordpress.com iYankees

      What? Ty Kep is the man…

      • Mike Pop

        The Sherminator!

  • http://www.bradlevinson.com Brad Levinson

    Hmm – I’m going to guess that they own part of the Sox because the NYTimes also owns/bought the Boston Herald newspaper. My guess would be that the Boston Herald owned this originally, and when the NYTimes bought it and its assets, they became partial owners of the Sox.

    – Brad

  • http://incumbentgm.wordpress.com The Third Yip-Yip

    Endorsing Obama probably did them in, haha.

    • http://www.spartacus.schoolnet.co.uk/CRsmithT1.jpg tommiesmithjohncarlos a/k/a Ridiculous Upside

      Sarah Palin’s revenge…

  • http://amonthoffundays.blogspot.com Phil in LA

    Hmm, if the sale goes through, maybe it will once again look like New York only has 2 home baseball teams in the Times’ coverage.

  • Shaun

    Maybe the Steinbrenner’s should take a close look at this investment. Now that would be absolutly awesome as a Yankee fan!

    • D.B.H.O.F. p.k.a Don Corleone

      A joke or do you need one of those faceplam thingys?

      • Whitey14

        Impossible, baseball rules strictly forbid having ownership, however little, in multiple clubs at the same time

  • D.B.H.O.F. p.k.a Don Corleone

    What I do not get is why with the Cubs and now the Sox (and other good businesses) that these papers are trying to sell these.

    Newspapers are DEAD.

    Sell the papers you morons. Change your core business to one that actually turns a profit not one that hemorrhages money. The Red Sox and the Cubs (along with their ballparks and other ancillary businesses will always make money as long as they are not run horribly.

  • Babe’s Ghost

    I’ve always thought it was a clear conflict of interest for the NYT to be part owners in a company they covered. Although they didn’t originate the Yanks-Red Sox rivalry they certainly played a part in hyping it. They’ve also devoted a surprising amount of coverage to Red Sox players and their management, mostly positive. That combined with their general tone of Yankee hate (HA and TK aside) has always made me suspicious of them. Without a doubt the emergence of the Red Sox as a national franchise greatly enhanced the value of both investments.

    While I doubt that there was an explicit conspiracy this will remove a clear conflict of interest that made their preachy moralism that much harder to swallow. All of that said, it’s still the best newspaper in the country by a mile. No one else even comes close.

    • http://kikojonesusa13.blogspot.com Kiko Jones

      On the money, Ghost.

      It always bothered me that a NY institution was overrun with Red Sox fans AND how it would influence their coverage of the rivalry.