Can’t win for losing

So Tishman Speyer just sold the New York Times building for $525 million. It bought the building from the paper in 2004 for $175 million.

So the building the Times no longer owns is worth more than the Boston Globe, according to most valuations.

In the time the Times Company has owned the Globe, its value has gone down by 50 percent.

In the Times Company has not owned its building, it has increased in value threefold.

Maybe they shouldn’t quit their day jobs. Or maybe they should.

  • Well, a new evidence of what I said about the NYT Company business managers.

    Not very good selling newspapers.

    And really bad selling real state at the right time for the right price.


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  • Walton

    …it’s a symptom of the vast old-media “infrastructure”
    problem and calcified bureaucratic management system therein.

    These high-paid elite managers endure on image rather than efficient business performance.

    But times are changin’…

  • Guy Love

    I guess they can continue to subsidize their managerial incompetence to run the NYT as long as they have real estate or assets they can unload. At some point, when they run this game plan out, they might actually have to respond to the market forces. They are living on borrowed time, and appear to be content with liquidating their future.

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  • What’s up?, just browsing around and dropping you a note to say that I enjoyed your Blog. Keep up with the good work!