The family that controls the U.S. paper of record has loyally seen it through some dark days. With the Gray Lady now on sturdier financial ground, they have a better chance to find a safe custodian at a decent price – maybe someone like billionaire New York Mayor Michael Bloomberg. The window of opportunity could close quickly.
After unloading peripheral businesses like About.com, the Times has about $1 billion of cash. Debt and pension obligations also amount to around $1 billion, but the overall operations are profitable and should generate about $175 million of EBIT next year.