InvestorPlace ^ | 6/3/12 | Jonathan Berr
New York magazine’s recent profile of New York Times Co. (NYSE:NYT) Chairman Arthur Sulzberger does a great job portraying the family drama and economic pressures that led to the ouster of his one-time friend CEO Janet Robinson. Perhaps hoping to end the depressing story on an optimistic note, the article raised the notion that Bloomberg L.P., the private media company founded by New York Mayor Mike Bloomberg, would ride to the rescue of the beleaguered publisher “and save the paper from itself, a kind of best worst-case scenario for the Ochs-Sulzberger family.”
New York Times Co. is adrift. Its share price is in free fall, and it lacks a CEO. Neither Bloomberg nor any other suitor owns a big enough magic wand to make the company’s problems disappear.
(Excerpt) Read more at investorplace.com ...
