Here's something you might be interested in.
Platinum Equity, the Beverly Hills buyout firm that owns the Union-Tribune, is one of three bidders for the Boston Globe and related assets, according to a story in the Globe. The New York Times owns the Globe and would like to dump it. Platinum is said to be offering $35 million plus the assumption of $59 million in pension liabilities. Two local groups are also bidding. Platinum is also said to be interested in Business Week Magazine, which McGraw-Hill has put up for sale. The magazine lost $75 million last year and could be sold for $1, according to the rumor mill. In other media news, entrepreneur Neil Senturia has apparently raised $707,000 for development of San Diego News Network, an online operation.
HUMBLE NOTE: I have been in the job market since 1960 (not including college, of course). That's 49 years. I spent 9 of those years with Business Week as a reporter/writer and bureau chief. I spent 30 of those years as a columnist for the Union and Union-Tribune, and was business/financial editor for most of that time. Business Week may be sold for a dollar. The Union-Tribune paid Platinum to take the paper off its hands by selling real estate worth about $110 million for $52 million. When it comes to value added, I can hardly boast.
Platinum Equity, the Beverly Hills buyout firm that owns the Union-Tribune, is one of three bidders for the Boston Globe and related assets, according to a story in the Globe. The New York Times owns the Globe and would like to dump it. Platinum is said to be offering $35 million plus the assumption of $59 million in pension liabilities. Two local groups are also bidding. Platinum is also said to be interested in Business Week Magazine, which McGraw-Hill has put up for sale. The magazine lost $75 million last year and could be sold for $1, according to the rumor mill. In other media news, entrepreneur Neil Senturia has apparently raised $707,000 for development of San Diego News Network, an online operation.
HUMBLE NOTE: I have been in the job market since 1960 (not including college, of course). That's 49 years. I spent 9 of those years with Business Week as a reporter/writer and bureau chief. I spent 30 of those years as a columnist for the Union and Union-Tribune, and was business/financial editor for most of that time. Business Week may be sold for a dollar. The Union-Tribune paid Platinum to take the paper off its hands by selling real estate worth about $110 million for $52 million. When it comes to value added, I can hardly boast.