Some Thoughts on the Times’ Sale of the Globe

In no particular order, and…reasonably…disjointed.  Recall that in 1993, The New York Times bought the Boston Globe for $1.1 billion.  Last week, the NYT sold the Globe to the Boston Red Sox owner for $70 million.

In 2001/2002, the current Red Sox owner bought the team, and 80% of the New England Sports Network, for $695 million; today the market values the business at a skosh over $1.3 billion.

In 2011, the Red Sox owner signed a 7-year contract worth $136 million with a pretty solid outfielder (plus some signing and performance bonuses that only amount to jingle money).

In a free market, we set our own priorities and values, individually and as a group, all without need of government oversight.  These purchases and sale, and the contract, show how much our free market values the NLMSM.   They also show how much our free market values the sports form of entertainment relative to the NLMSM form of entertainment.

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