A buck essentially represents a gentleman’s agreement: I take a liability, headache and a distraction off your hands, says the buyer. I give you the great potential of the Globe brand, a top-25 news web site and improved ability to re-jigger the pieces, thanks to our new contracts and cost-cutting, says the Times.
I think maybe it’s worth $0. But, of course, my financial sense is not very good. So, here’s what I actually mean.
If I were the NY Times, I’d be considering letting the Globe fail entirely, if there’s a way to do that that would wipe the Globe’s debt off the books. Then I’d re-hire some of the columnists and editors, and some of the local reporters (news, sports, business, arts, features, etc.). And I’d announce the new daily Boston insert into the NY Times.
Of course, if the Times can get a buyer willing to pony up substantial cash, and assuming any deal would prevent the Times from hiring current Globe staff, my idea may be quite stupid. Wouldn’t be the first time.
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