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It is the union or just the economy--Boston Globe (newspaper) to close?

Associateed Press reported yesterday that NY times, the parent of Boston Blobe, asked the UNION to make a concession of 20 Mil; otherwise will shut down it.

I do not know too much about this topic other than the board of Boston Globe is fighting with the UNION. But I do know all newspapers are facing a hard time, with with the challenge of both the economy and the internet. It is hard to believe the Union wants the business as usual when the business is not as usual in reality.

As far as Merger & Acquisition is concerned, I do not think it is relevant as I think the possible shutdown does not have too much to blame on the Acquisition by New York Times in 1993.

As far as real estate is concerned, I remember once the Mass Realtor Association complained about its negative report on real estate market and threaten to not buy and ads and Boston Globe quickly conceded.

Secondly, Boston Globe does have a very decent Real Estate Section. Below is today's real estate home page.

Posted by Huiting Zhuang,Sell your business overseas on 04/24/2009 03:03 PM

Comments (8)

Originally posted at: Huiting's Blog: It is the union or just the economy--Boston Globe (newspaper) to close?

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8 Comments on It is the union or just the economy--Boston Globe (newspaper) to close?

APR

Over the next decade we are going to see the demise of most newspapers. Too bad but the technology is such that they cannot deliver the news in a timely manner. They can no longer compete with paper editions.

I do believe that many if not most newspapers are going to have a hard time surviving the times ahead with ad revenues falling so much. As a Realtor the only time I put an ad in the local paper is if I have a new listing and for open houses.

Huiting, Newspapers will eventually go the way of the buggy whip. Part of the problem is the union, part of the problem is the ad revenue, part of the problem is the medium, part of the problem is people aren't buying newspapers etc., etc., etc. Rich

Huiting - I would not buy any stock that involves newspapers or news magazines for that matter. Both are dying a slow death. I did hear Senator John Kerry crying to Congress to step in a save the Boston Globe, oh that would be so special.

If the unions could see what the rest of us see they'd realize they are antiquated.

It is a very complex problem for sure. We no longer use print advertising unless it is an open house, and then not always. I never buy a newspaper anymore, and tend to go online for everything. So, change would be the way to go I would think. The only thing I read is a very small local paper that is delivered to my house free once a week. I just look through it for local events.

20 mil in concessions, wow, that is mind boggling to be honest. I can't wrap my head around it.

I read multiple paper newspapers every day and have all my life. I cannot conceive of not getting the local newspapers. Much of the online news is generated by newspapers and the newspapers have much more of value in them than breaking news stories. News gathering costs money and there is no equivalent alternative at this point. In my opinion newspapers are essential to our democracy and as I said to my Dad after watching the weekly PBS show about the media that was all about the Globe tonight - we're going faster and faster down the tubes - the speed of the descent is blowing my mind.

Liz

MAY

The San Diego Union-Tribune was just bought by a private equity firm here. They must not know what the rest of us know....

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