Did Times Sell WQXR for Money or Strategic Reasons

Obviously, getting $45 million for its radio station WQXR can't help but help the New York Times' debt-laden bottom line. That seems to be the way the company is couching it if you believe PaidContenet's reporting, though a reporter from WNYC (which purchased WQXR, a classical music station) said Times CEO Janet Robinson told
him that interpreting the sale as being because the Times is in financial trouble “is the wrong way to interpret this news”. The Times he quoted Robinson as saying, wants to focus on its core missions of news and digital information. (It's at about 1:55 in the audio on this piece.)

The staff memo sent from Robinson and publisher Arthur Sulzberger explains the deal as "another step in the realignment of our portfolio of properties and our initiative to reduce our debt"

So, I guess it's both.

1 comment:

jaya said...
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