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Media

Boston Globe Is the Latest Daily For Sale

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By Douglas A. McIntyre Updated Published
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One more major city daily has gone on the market, as publishers across the nation try to salvage the prospects of the biggest newspapers. The Boston Globe will be dumped by The New York Times Co. (NYSE: NYT). Evercore Group will market the property.

The Globe cannot have much of a future. It has not had the kind of success that the Times itself has had selling online subscriptions and has only 28,000. Daily circulation of the paper is only 230,000. Advertising revenue is still falling, and online ads have not made up for that.

Several other large city dailies are for sale, among them the Tribune company’s Chicago Tribune and LA Times. Some national publishers have tried to solve the problem of dropping print revenue by cutting the publication of the physical paper to three or four days a week. In rare cases like Ann Arbor, parent Advance closed the paper completely. Publishers still hope to increase traffic to their websites, but the evidence that big city online visits continue to grow quickly is rare.

Someone will buy the Globe, but that does not mean it can be turned around.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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