With the bidding deadline for the Boston Globe here, some question if the two potential buyers – the California investment firm Platinum Equity, and the Taylor family – can handle the reported $115 milion in pension liabilities. Journalism Professor Fred Bayles, a former AP and USA Today reporter and long-time Globe watcher, says this all reflects the general state of the newspaper industry.
“Newspapers still can make money, especially if they trim off the excesses in staff and equipment acquired during the rock ‘n’ roll years. The Globe could be one of them if the pension and other obligations can be dealt with.”
Contact Fred Bayles, 617-353-7736, firstname.lastname@example.org