Jan
28
NY Times hires Goldman Sachs to sell interest in Red Sox
ByI’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…
just the red sox or all of their new england sports holdings?
I hope Cuban never has anything to do with the Red Sox.
tru dat
You know, I know the TImes was in trouble but I didn’t realize it was this bad.
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.
What? Ty Kep is the man…
The Sherminator!
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
Endorsing Obama probably did them in, haha.
Sarah Palin’s revenge…
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.
Maybe the Steinbrenner’s should take a close look at this investment. Now that would be absolutly awesome as a Yankee fan!
A joke or do you need one of those faceplam thingys?
Impossible, baseball rules strictly forbid having ownership, however little, in multiple clubs at the same time
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.
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.
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.