Given these projections, a fair value over zero looked optimistic. But add to those projected losses, the unfunded $59 million pension liability of the Globe plus Worcester Telegram, and the NYT might actually end up paying someone to take it off their hands.
The New York Times Co. has postponed tomorrow’s deadline for prospective buyers of The Boston Globe to submit preliminary bids for the newspaper, people briefed on the sales process said.
No new date has been set for the bids. Goldman Sachs Co., the investment banking firm hired by the Times Co. to manage the newspaper sale, have told interested parties they will be given more time to prepare an initial offer for the Globe and its sister paper, the Worcester Telegram & Gazette, the people said.
Looks like buyers aren't terribly motivated.
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