Boston Foundation not so hot to buy the Globe
Last week there was a bit of a buzz over a story in the Boston Business Journal reporting that the Boston Foundation might be interested in playing some role in rescuing the Boston Globe — and possibly even getting involved as part of a future ownership group.
Since then, the Journal has run a correction: "The Boston Foundation said the effort is to address many issues concerning the Globe, and is not intended specifically to organize a group of potential buyers for the paper."
Labels: Boston Globe, media business
posted by Dan Kennedy @ 9:27 AM
1 comments
1 Comments:
Dan, this points again to the false premise of non-profit status as a savior to the future of newspapers. Unless you can find a foundation willing to drain their endowment in short order, it makes no sense from a financial standpoint to think that it would make a bit of difference. As you have pointed out previously, taxation of profits isn't exactly the problem here; rather the total absence of profits.
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