Do the Post and Globe sales signal a new heyday for print?
The recent sales of The Boston Globe, Newsweek, and The Washington Post suggest a resurgence of traditional media. But things may not be as great as they seem.
The crazy exchanges began at the end of last week with the announcement that The New York Times had called it quits with the money-draining Boston Globe and was selling the paper for $70 million, much less than the $1.1 billion it paid for it in 1993. The buyer is Boston Red Sox owner John Henry.
Then, over the weekend an odd agreement was announced Saturday by International Business Times Media to acquire Newsweek, which has been on life support since it ceased print publication in December 2012.
IBT, which has almost a dozen online news sites, said that it’s not ruling out the possibility that it might bring back the Newsweek magazine’s printed version.
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