Tuesday, February 26, 2013

Wanna buy a metro newspaper? Now's the time to do

It is simple economics, supply and demand, buy low, sell high – all those things you learned from watching Trading Places late at night. Last week The Boston Globe was put on the market by The New York Times Co. Now, according to CNBC, the Tribune Company has hired bankers at JPMorgan Chase and Evercore Partnersto sell off their newspaper properties.

In other words, The Boston Globe, the Chicago Tribune and the Los Angeles Times are on the market*... at the same time. Or as William would say "they're out there panicking right now, I can feel it."

* Other newspapers owned by the Tribune Company include the Baltimore Sun, the Hartford Courant, the Orlando Sentinel, quite a number of local Southern California papers like the Pasadena Sun and Glendale News-Press, and others.