“The New York Times Company bought the Boston Globe in 1993 for $1.1 billion. It just sold it for $70 million. But we must factor in price inflation. At 1993′s prices, the Times Company paid the equivalent of $1.75 billion today. So, the company lost a staggering 96%. This shows where print newspapers are headed: down. This also shows where the New York Times is headed: down.  American liberalism has bet the farm on three institutions: newspapers, network television, and the education system. All three are under assault by the Internet. The profits are shrinking for newspapers and network television.”

http://teapartyeconomist.com/2013/08/05/the-new-york-times-company-sells-the-boston-globe-at-a-96-loss/

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