On last week New York Times said that they are getting out of the TV broadcasting business and will be selling all nine of their stations worth over $500 million in today's market.
New York Times (NY Times) shows that media and TV broadcasting can be big business, when you provide quality news and information. Even though this is true, when numbers take a dip on you, sometimes you have to place more focus on your first planned objectives to recoup.
On last week New York Times said that they are getting out of the TV broadcasting business and will be selling all nine of their stations that they own across the country. The stations are stated to be worth over $500 million in today's market.
The stations that are on the market are located in Memphis, Fort Smith, AK, Huntsville, AL, Norfolk VA, Des Moines, Iowa, Moline, IL, (2) Oklahoma City, and Scranton, PA.
The New York Times Company (NYSE: NYT), a leading media company with 2005 revenues of $3.4 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers, nine network-affiliated television stations, two New York City radio stations and 35 Web sites, including NYTimes.com, Boston.com and About.com.