New York Times Takes 93% Loss on Boston Globe; IBT Media Buys Newsweek; Bezos Buys the Washington Post; and There's an Activist Investor in

(Correction: added billion to $1.1) Media assets are trading again and in play. The New York Times just sold the Boston Globe to Red Sox owner John Henry for $70 million, which was 93% below its $1.1 billion purchase price in 1993; Newsweek was sold to IBT Media (International Business Times) today; and Jeff Bezos, founder of Amazon, just bought the Washington Post for $250 million (he recently invested $5 million in Business Insider).

In other online media news, there's an activist investor in Boo-yaah Jim! "Spear Point Submits Letter To Board Of Directors Of TheStreet, Inc." at Seeking Alpha. I wonder what Jim Cramer thinks of $TST's chart here. I put up $WPO and $NYT's 6-month and 3-year charts as well (source: Year-to-date, $WPO is up 55.7%, $NYT is up 39.2%, and $TST is up 30%. Some decent alpha there with $SPY up 21% YTD.




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