The New York Times takes Boston Globe off the market

By Branko Brkic 16 October 2009

NY Times Co. chairman and The New York Times publisher, Arthur Sulzberger Jr announced on Thursday that he will no longer seek a buyer for New England’s most important newspaper, the Boston Globe. NYTimes bought it for a record $1.1 billion in 1993 and the newspaper was very profitable until last year’s recession exposed the growing weaknesses of print-based models and resulted in massive losses (projected at $85 million this year). And as the company’s flagship, The New York Times, also started bleeding red ink, coupled with a disastrous share buy-back scheme that drained corporate coffers and didn’t increase share price, the resulting cash crunch meant that the Boston Globe was the first on the chopping block. After wrestling major concessions from print and distribution unions, Sulzberger was ready to sell the newspaper. There was only one problem he couldn’t solve: there were no buyers. So on Thursday it was announced that the Boston Globe was off the market finally. Its future, however, remains in doubt. We do hope someone eventually gives the venerable daily a warm, loving and cuddly home.


Watch Pauli van Wyk’s Cat Play The Piano Here!

No, not really. But now that we have your attention, we wanted to tell you a little bit about what happened at SARS.

Tom Moyane and his cronies bequeathed South Africa with a R48-billion tax shortfall, as of February 2018. It's the only thing that grew under Moyane's tenure... the year before, the hole had been R30.7-billion. And to fund those shortfalls, you know who has to cough up? You - the South African taxpayer.

It was the sterling work of a team of investigative journalists, Scorpio’s Pauli van Wyk and Marianne Thamm along with our great friends at amaBhungane, that caused the SARS capturers to be finally flushed out of the system. Moyane, Makwakwa… the lot of them... gone.

But our job is not yet done. We need more readers to become Maverick Insiders, the friends who will help ensure that many more investigations will come. Contributions go directly towards growing our editorial team and ensuring that Daily Maverick and Scorpio have a sustainable future. We can’t rely on advertising and don't want to restrict access to only those who can afford a paywall subscription. Membership is about more than just contributing financially – it is about how we Defend Truth, together.

So, if you feel so inclined, and would like a way to support the cause, please join our community of Maverick Insiders.... you could view it as the opposite of a sin tax. And if you are already Maverick Insider, tell your mother, call a friend, whisper to your loved one, shout at your boss, write to a stranger, announce it on your social network. The battle for the future of South Africa is on, and you can be part of it.


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Days of Zondo

Fikile ‘Fearfokkol’ Mbalula tripped up by semantics of his Gupta-fix tale

By Jessica Bezuidenhout

"What's the sense in having an eclipse if you can't look at it? Somebody in production sure slipped up this time!" ~ Charles M. Schulz