Thursday, December 25, 2008

Today's Fly Or Die Commerce Report: The New York Times May Sell Off Their Share Of The Boston Red Sox

In an effort to stave off debt, The New York Times newspaper corporation is allegedly considering selling off its holdings in New England Sports Ventures (NESV). According to The Wall Street Journal, The Times owns 17.5% of NESV- which itself owns the Boston Red Sox, most of the cable network on which the Red Sox's games are aired, and Feinway Park. Financial analysts are saying that the struggling periodical could get as much as $200 million for their stake in the Boston sports empire.

If readership and ad revenue continues to decline, the prestigious company may also seek to sell off their other assets. The Times also owns The Boston Globe and

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