Update on Boston Globe sale: Sale of the Boston Globe and the newspaper/digital setting…

In 1993 The New York Times Company purchased the Boston Globe for $1.1 billion.  In the last few days it sold it for $70+ million, a decrease of 636%.

Yet we are still debating in important venues whether bloggers and new media are really reporters entitled to press access to events.

That reminded me of this Clay Shirky piece of some time ago.  I thought you might enjoy it:

http://www.shirky.com/weblog/2011/12/institutions-confidence-and-the-news-crisis/

UPDATE:

It seems it is worse than I thought and when pensions are taken into account the value lost was not as I stated but it actually sold for a negative number.

http://www.businessinsider.com/boston-globe-sold-for-negative-40-million-2013-8

The Globe reports today that at least two other bidders offered more for it than Henry’s accepted bid.