The New York Times confirmed this morning that it’s looking to get rid of its stake in the Boston Red Sox baseball team, something previously reported by a number of news outlets.
The Times could raise at least $200 million selling its stake, analysts have said, though it should be noted that selling anything these days — even part of a first class baseball organization — is no easy task.
Check back to MediaFile for more on the sale shortly.
Meanwhile, here’s a recap of the New York Times decline in quarterly results:
The Times’ fourth-quarter net income fell 48 percent to $27.6 million, or 19 cents a share, compared with $53 million, or 37 cents a share, in the quarter a year earlier.
Excluding a writedown related to the International Herald Tribune, its European newspaper, the Times reported earnings of 26 cents a share. The average analyst estimate was 27 cents a share, according to Reuters Estimates.