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News Link • Media: Print

Is the New York Times About To Be Sold?

 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, 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.

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