Trump interested in buying the New York Times - report - KCTV5

Trump interested in buying the New York Times - report

By Chris Isidore
updated 10:59 AM EST, Wed Jan 23, 2013

NEW YORK (CNNMoney) -- Outspoken New York real estate mogul Donald Trump has been holding meetings about possibly buying the New York Times Co., according to a report in New York Magazine.

Shares of the New York Times were slightly lower in early trading, suggesting that investors were not taking the report all that seriously. Even the New York Magazine piece describes a purchase as "improbable."

The newspaper company has been hit by the financial problems that have dogged all of print media in recent years, amid the growing competition from the Internet. It has been losing money for a number of years. Most recently it posted a $43.7 million loss in the first nine months of last year. Its new New York City headquarters is heavily mortgaged and the company carries significant other debt. And while its shares rose nearly 16% in 2012 and are slightly higher so far in 2013, the stock has lost more than half its value over the last five years.

But the majority of the company's voting shares are controlled by the Sulzberger family, which has insisted on numerous occasions it has no interest in selling control of the company. And for the liberal Sulzberger family to sell to an outspoken conservative critic of both the Obama administration and the mainstream media seems particularly unlikely. The company declined to comment on the report.

Trump's office wouldn't comment specifically on the report, but it didn't rule out an attempt to buy the paper.

"I have watched Mr. Trump over the years navigate much tougher acquisitions," said Michael Cohen, who is special counsel to Trump. "Mr. Trump is so smart and so rich that if he wants it, he will get it. If Mr. Trump elects to purchase the New York Times, commits his time and resources, there is nothing he can't buy."

 

CNN © 2013 Cable News Network.Turner Broadcasting System, Inc. All Rights Reserved.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Charles Manson, leader of murderous cult, dead at 83

    Charles Manson, leader of murderous cult, dead at 83

    Monday, November 20 2017 3:17 AM EST2017-11-20 08:17:04 GMT
    In this 1986 file photo, Charles Manson is seen in court. Authorities say Manson, cult leader and mastermind behind 1969 deaths of actress Sharon Tate and several others, died on Sunday, Nov. 19, 2017. He was 83. (AP Photo, File)In this 1986 file photo, Charles Manson is seen in court. Authorities say Manson, cult leader and mastermind behind 1969 deaths of actress Sharon Tate and several others, died on Sunday, Nov. 19, 2017. He was 83. (AP Photo, File)

    Charles Manson, the hippie cult leader who became the hypnotic-eyed face of evil across America after orchestrating the gruesome murders of pregnant actress Sharon Tate and six others in Los Angeles during the summer of 1969, has died.

    More >

    Charles Manson, the hippie cult leader who became the hypnotic-eyed face of evil across America after orchestrating the gruesome murders of pregnant actress Sharon Tate and six others in Los Angeles during the summer of 1969, has died.

    More >
  • Two 23-year-olds from KC killed in crash on 45 Highway in Platte County

    Two 23-year-olds from KC killed in crash on 45 Highway in Platte County

    Saturday, November 18 2017 9:11 PM EST2017-11-19 02:11:16 GMT
    File photo. (AP)File photo. (AP)
    The Platte County Sheriff’s Office is investigating a crash that killed two people and hospitalized one on Saturday. The crash happened around 4:30 p.m. on 45 Highway near the Westside Drive intersection, which is north of Iatan. The initial investigation revealed that a silver 2004 Mercury Grand Marquis was headed northbound in the southbound lane, trying to pass someone, when it crashed head-on into a 2007 Toyota Rav 4 that was headed southbound. The Marquis’ driver a...More >
    The Platte County Sheriff’s Office is investigating a crash that killed two people and hospitalized one on Saturday. The crash happened around 4:30 p.m. on 45 Highway near the Westside Drive intersection, which is north of Iatan. The initial investigation revealed that a silver 2004 Mercury Grand Marquis was headed northbound in the southbound lane, trying to pass someone, when it crashed head-on into a 2007 Toyota Rav 4 that was headed southbound. The Marquis’ driver a...More >
  • Station: Video shows nurses laughing as 89-year-old dies

    Station: Video shows nurses laughing as 89-year-old dies

    Monday, November 20 2017 8:02 AM EST2017-11-20 13:02:01 GMT

    An Atlanta television station says video secretly recorded in a nursing home in 2014 shows nurses laughing while they try to start an oxygen machine and an 89-year-old World War II veteran dies.

    More >

    An Atlanta television station says video secretly recorded in a nursing home in 2014 shows nurses laughing while they try to start an oxygen machine and an 89-year-old World War II veteran dies.

    More >
Powered by Frankly
KCTV 5 News

Online Public File:
KCTV  KSMO

Powered by WorldNow CNN
All content © 2017, KCTV; Kansas City, MO. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.