Eat your heart out, Mort Zuckerman.
Back in September, the real estate magnate sold the legendary New York Daily News to Tronc (rhymes with bonk) for exactly $1 – 50¢ less than the price of the paper’s Sunday edition.
(To be fair graf goes here)
To be fair, Tronc did assume $30 million in operational and pension liabilities, but hey – a dollar’s a dollar, yeah?
Boston Herald owner Pat Purcell, on the other hand, scooped up a helluva lot more in yesterday’s bake sale of the shaky local tabloid.
From Brian Dowling’s piece in today’s edition of the soldy local tabloid:
Digital First Media enters $11.9M top bid for Boston Herald
Digital First Media won the Boston Herald in a 5-hour bankruptcy auction with a top $11.9 million bid that all but settles who will carry the news organization into the next chapter of the city’s media history.
The newspaper company, which operates as Media News Group and owns hundreds of publications across the country, including the Denver Post, bested two other suitors — GateHouse Media and Revolution Capital. Digital First also owns the Lowell Sun and the Fitchburg Sentinel & Enterprise in Massachusetts.
But that doesn’t mean it’s all roses and lollipops at Fargo Street. As the Boston Globe’s Jon Chesto reports, Digital First Media “has earned a reputation for relentless cost-cutting” – not a good omen for the Herald rank and file.
And, as our kissin’ cousins at One-Daily Town recently noted, Digital First just ditched the Sentinel & Enterprise’s brick-and-mortar home for a “virtual newsroom.”
So maybe you Heraldniks might want to bring some of your personal items home.