New York Times Company Sells Boston Globe
The New York Times Company, in its latest move to shed assets and focus more on its core brand, has agreed to sell The Boston Globe and its other New England media properties to John W. Henry, principal owner of the Boston Red Sox.
一直在进行资产剥离以将注意力集中在核心品牌的纽约时报公司(New York Times Company)近日又有新举措。公司同意将《波士顿环球报》(Boston Globe)及其它新英格兰媒体资产出售给波士顿红袜队(Boston Red Sox)主要所有人约翰·W·亨利(John W. Henry)。
The sale, for $70 million, would return the paper to local ownership after two decades in which it struggled to stem the decline in circulation and revenue. The price would represent a staggering drop in value for The Globe, which The Times bought in 1993 for $1.1 billion, among the highest prices paid for an American newspaper.
At the time, The Globe was one of the nation’s most prestigious papers in a far more robust newspaper environment. But like other newspapers, it began to lose readers and advertisers to the Internet, and revenue plummeted. The Times Company has taken several write-downs related to the New England Media Group, and in February it said it was putting The Globe and other assets in the group up for sale.
在当时，《波士顿环球报》是全美最受尊重的报纸之一，而报业的环境也远比现在更有活力。但和其他报纸一样，它的读者和广告商开始流向互联网，收入出现大幅下降。纽约时报公司已多次减记新英格兰媒体集团(New England Media Group)的价值，并在2月宣布将《波士顿环球报》及该集团的其他资产挂牌出售。
For The Globe, the planned sale restores a Boston connection that prevailed for 120 years under the Taylor family, which owned the paper from 1873 until its sale 20 years ago. While not from Boston, Mr. Henry has for the last decade been active in local sports, and his Fenway Sports Group owns the Red Sox, Fenway Park and 80 percent of the New England Sports Network. It also owns the soccer club Liverpool F.C. in the English Premier League.
对于《波士顿环球报》，这宗计划中的交易将恢复报社与波士顿之间长达120年的联系，从1873年开始一直到20年前，报社一直由泰勒(Taylor)家族拥有。亨利并非波士顿人，但至少在过去十年里一直活跃在当地的体育领域，他的芬威体育集团(Fenway Sports Group)拥有红袜队、芬威公园(Fenway Park)，以及新英格兰体育网(New England Sports Network)的80%股份。它还拥有英格兰超级联赛中的利物浦足球俱乐部(Liverpool FC)。
In addition to The Globe, the sale includes BostonGlobe.com; Boston.com; the direct-mail marketing company Globe Direct; the company’s 49 percent interest in Metro Boston, a free daily paper; Telegram.com and The Worcester Telegram & Gazette. The Times bought the Telegram & Gazette for $295 million in 1999.
除了《波士顿环球报》，此次交易还涉及BostonGlobe.com；Boston.com；直邮市场推广公司环球直邮(Globe Direct)；纽约时报公司在免费日报《波士顿都市报》(Metro Boston)持有的49%股份；Telegram.com和《伍斯特电讯报》(Worcester Telegram & Gazette)。纽约时报公司是在1999年以2.95亿美元买下《伍斯特电讯报》的。
Mr. Henry is buying the media group without partners through his acquisition company; under terms of the sale, he does not have to assume The Globe’s pension liabilities.The all-cash sale is expected to close in 30 to 60 days.
The Globe is not the only paper to sell at a heavily discounted price. In April 2012, Philadelphia’s newspapers sold for $55 million after selling for $515 million in 2006. In October, The Tampa Tribune sold for $9.5 million. In recent talks on the sale of the Tribune Company’s portfolio of newspapers, analysts estimated that the entire newspaper company, including The Los Angeles Times and The Chicago Tribune, was worth only $623 million.
《波士顿环球报》不是唯一一家大幅降价出售的报纸。2012年4月，2006年曾卖出5.15亿美元的费城报纸以5500万美元出售。10月，《坦帕论坛报》(Tampa Tribune)以950万美元出售。近日就论坛公司(Tribune Company)名下报业资产出售事宜进行的讨论中，分析师对整个报业集团做出的估值只有6.23亿美元，这其中包括《洛杉矶时报》(Los Angeles Times)和《芝加哥论坛报》(Chicago Tribune)。
For the Times Company, the New England Media Group was the last big asset in a portfolio it had been downsizing for several years. The acquisition of The Globe in 1993 was part of the company’s strategy to solidify its grip on the eastern corridor advertising sector and to have a presence that stretched from Maine to the District of Columbia. At the time, in addition to its flagship New York newspaper, the Times Company owned 31 regional newspapers, 20 magazines, five television stations, two radio stations and other businesses. It also had a half-interest, with the Washington Post Company, in The International Herald Tribune.
对纽约时报公司来说，新英格兰媒体集团是其多年来一直在裁减规模的资产组合中，最后一项大规模资产。1993年纽约时报公司收购《波士顿环球报》是为了巩固在东部走廊广告业的地位，谋求将影响力覆盖缅因州到哥伦比亚特区的这块区域。除了在纽约的旗舰报纸，当时的纽约时报公司还拥有31家地区性报纸、20家杂志、五家电视台、两家电台以及其他产业。它同时还拥有《国际先驱论坛报》(International Herald Tribune)一半的股份，另一半归华盛顿邮报公司(Washington Post Company)所有。
But in recent years, the Times Company has been divesting itself of assets to focus on developing its core title, The New York Times. In 2012, the company sold its 16 regional newspapers. Last year, it sold the About Group to IAC/InterActiveCorp for $300 million. This year, The Times announced plans to expand its global presence by changing the name of The International Herald Tribune to The International New York Times and attracting a new global audience of readers to become subscribers.
但是在近几年，纽约时报公司开始将其资产剥离，将重心放在开发核心品牌《纽约时报》上。2012年公司出售了名下16家地区性报纸。去年它以3亿美元将About集团(About Group)出售给了IAC/InterActiveCorp。今年纽约时报公司宣布了拓展全球影响的计划，将《国际先驱论坛报》更名为《国际纽约时报》(International New York Times)，以期吸引新一批的全球读者群成为订户。
The Globe attracted a range of prospective buyers. Among those who expressed interest were Douglas F. Manchester, owner of the U-T San Diego; and a group led by Jack Griffin, the former chief executive of Time Inc., that included Ben and Steve Taylor, whose family sold The Globe to the Times Company.
《波士顿环球报》吸引了一系列意向买家。曾表达过兴趣的有《圣迭戈联合论坛报》(U-T San Diego)所有人道格拉斯·F·曼彻斯特(Douglas F. Manchester)；以及由时代集团(Time Inc.)前首席执行官杰克·格里芬(Jack Griffin)为首的一组买家，其中包括本(Ben)和史蒂夫·泰勒(Steve Taylor)，当初就是他们的家族将《波士顿环球报》卖给纽约时报公司的。
Like most newspapers, The Globe has struggled to hold onto its readers and the print advertisers who fed its profits for decades. According to the Alliance for Audited Media, circulation at The Globe from Monday through Friday declined 38 percent in 2013 from 2003, to 245,572 from 402,423. Before the Times Company bought The Globe in 1993, it had a weekday circulation of 506,996.
和大多数报纸一样，《波士顿环球报》一直费尽艰辛想留住读者和平面广告商，几十年来他们一直是报纸的利润来源。据审计媒体联盟(Alliance for Audited Media)的数据，2013年《波士顿环球报》从周一到周五的发行量较2003年下降了38%，从402423份下降到245572份。在纽约时报公司1993年收购《波士顿环球报》之前，它的工作日发行量为506996份。
As circulation declined, so did advertising. According to the second-quarter earnings statement released by the Times Company on Thursday, advertising revenue for the New England Media Group dropped 9.5 percent, to $44.4 million, compared with the same quarter in 2012.
During the time that it was owned by the Times Company, The Globe won eight Pulitzer Prizes, including the 2003 public service award for its coverage of sexual abuse in the Catholic Church.