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re: The New York Times buying The Athletic for $550 million.
Posted on 1/6/22 at 11:24 am to TotesMcGotes
Posted on 1/6/22 at 11:24 am to TotesMcGotes
The athletic was bleeding bad. They were losing like 100 million a year. I don’t understand why NYT paid that price tag
3
Posted on 1/6/22 at 11:29 am to Civildawg
They didn’t lose $100 million per year. I think they lost $100 million over the course of 2-3 years.
I don’t think they were supposed to be profitable until somewhere down the line. Maybe they couldn’t bridge the gap and NYT figured they can. Come in at the tail end of their long road to profitability and then reap the rewards.
I don’t think they were supposed to be profitable until somewhere down the line. Maybe they couldn’t bridge the gap and NYT figured they can. Come in at the tail end of their long road to profitability and then reap the rewards.
Posted on 1/6/22 at 11:34 am to Civildawg
quote:
The athletic was bleeding bad. They were losing like 100 million a year. I don’t understand why NYT paid that price tag
Same. I know it's less than the price tags I've seen in recent years, but still seems like a heavy overpay for a model that has already given up a lot of it's original selling points.
Posted on 1/6/22 at 12:02 pm to Civildawg
I can't fathom how they were losing so much money over so much of a time frame. Were their payroll costs that insane?
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