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973741 tn?1342342773

the Donald wants the New York times

Billionaire Donald Trump wants it known that he really, really wants to buy The New York Times (NYT +0.23%) even though the paper is not for sale -- and even if it were, the Sulzberger family, which has owned it for more than a century, probably would never sell it to him in a billion years.


"I have watched Mr. Trump over the years navigate much tougher acquisitions," writes Michael Cohen, a Trump spokesman. "Mr. Trump is so smart and so rich that if he wants it, he will get it. If Mr. Trump elects to purchase the NY Times, commits his time and resources, there is nothing he can’t do."

Shares of the company, which also owns the Boston Globe, were barely budging on the news, indicating that Wall Street isn't holding its breath for a deal to happen. A spokesperson for the Times couldn't immediately be reached.

It's unclear exactly how much progress, if any, Trump has made in buying the newspaper company. New York magazine, which broke the story, says "Trump has engaged in more than one meeting to discuss how he might buy the Grey Lady." If Trump does make a credible offer for the paper, the company's board of directors would have a fiduciary duty to consider it.

Trump has had a contentious relationship with the company's flagship newspaper for years. In 2011, he lost a libel case against Tim O'Brien, a former reporter and editor for the paper, who argued in a book that the 56-year-old wasn't really a billionaire. O'Brien, now with The Huffington Post, couldn't immediately be reached. Many at the paper, including columnist Gail Collins, have mocked Trump's claims that President Obama may not have been born in the United States.

If Trump is successful -- and that's a big if -- he would have a tough time convincing employees and advertisers that he wouldn't use the paper to promote his own political agenda. In fact, some newspapers around the country have been snapped up by wealthy business owners with their own motives. Real-estate developer Doug Manchester, for example, bought the San Diego Union-Tribune in 2011 and turned the paper into what Media Matters for America calls "a corporate shill."

Trump's interest comes at a tough moment for The New York Times, which has recently offered buyouts to newsroom staff to cut costs as it struggles to reinvent itself in the digital age. The deadline for accepting these offers is Thursday, according to the paper. Wall Street isn't expecting the struggles to end anytime soon. Revenue in the December quarter is expected to fall 11%, according to analysts' estimates. Profit is expected to be 31 cents, down from 45 cents a year earlier.  

Wall Street sees better times ahead for the venerable publisher, whose digital strategy has gained traction. The average 52-week price target on the stock is $9.58. about 10% higher than where it currently trades. Shares of the publisher have surged more than 13% over the past year.

http://money.msn.com/now/post.aspx?post=e243505e-428f-4dd9-8810-1202d970da17
10 Responses
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535822 tn?1443976780
Donald Trump is a good Patriot he would  make the NY times into a better paper ., it is  extremely left wing at the present tome I think Trump would moderate it .
Helpful - 0
480448 tn?1426948538
In 2011, he lost a libel case against Tim O'Brien, a former reporter and editor for the paper, who argued in a book that the 56-year-old wasn't really a billionaire. O'Brien, now with The Huffington Post, couldn't immediately be reached.

That's actually funny.  He's at the HuffPost.  He (or someone else) will have a field day with this.

Donald is an idiot.  He's a perfect example of how too much money makes a person....well...weird.  They don't know what the do with themselves.

And lol...yes, all that money, and he can't find a better hair piece than THAT mess?  Yikes!

Anytime he opens his mouth, he makes a total a$$ of himself.
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973741 tn?1342342773
ha.  It's NOT good looking.  And it's gotten lighter as his skin has gotten oranger, have you noticed?
Helpful - 0
Avatar universal
Who would buy a hair piece from the manufacturer of that dead road kill he wears on top of his misshaped casaba?  I'd be proud to be bald rather than wear that dead badger on my head.
Helpful - 0
973741 tn?1342342773
The only advertisers he'll get are for hair pieces and creams that turn you orange.  
Helpful - 0
Avatar universal
The Times is a left leaning media source.  AT times they put out some conservative view points.  

As for Trump and acquiring the Times..... sheesh.  Who knows what will become of the paper.  Another "National Enquirer", perhaps?
Helpful - 0
973741 tn?1342342773
I agree completely.  Trump probably should stick to his tv show and stay away from politics.  He's dangerous to Republicans because his extremism makes him dangerous.
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377493 tn?1356502149
A person claiming party affiliation doesn't mean he speaks for the whole party, or that everyone is like that.  I think (or at least hope) the majority recognize that.  Mr. Trump is a highly entertaining egotist who thinks he can speak for all - not too many take him seriously fortunately.
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973741 tn?1342342773
I sure hope not.  Trump is another one that makes Republicans look bad.  
Helpful - 0
377493 tn?1356502149
Am I mistaken, or isn't the Times currently a fairly left leaning paper?  So it would go from far left to far right.  Same problem, different agenda.  Sigh, but it's probably true.  What the Donald wants, chances are he will get.  I can just see the articles and headlines now...promoting how wonderful Mr. Trump is....cause rumor has it he has just a bit of an ego....lol.
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