computerwoche.de

Archiv

Ballmer: Definitely 'No' on buying The New York Times

23.03.2009
On Thursday morning in Manhattan, Microsoft CEO Steve Ballmer spelled out his complete disinterest in acquiring the debt-saddled New York Times Company. "No," Ballmer replied to a reporter's question about the Times outside the McGraw-Hill building, where he was a featured speaker at the 2009 .

"Not 'no comment,'" Ballmer added. "No."

The Times will lose a revolving credit line on May 1st. That news has driven the company's stock down to US$4.54 per share as of Friday morning. The Times recently sold and leased back its on 8th Avenue.

ZDNet blogger Tom Steinert-Threlkeld the Gray Lady's vulnerability to a takeover:

At its current price, The New York Times has a market worth of $653.6 million, making a purchase for under $1 billion easily conceivable. Rupert Murdoch's News Corp. two years ago paid $5 billion for The Wall Street Journal, before newspaper prices plunged and a variety of newspapers and magazines went out of business or went online only.

"We've done some good stuff,'' Ballmer said, referring to Microsoft's MSN portal and its partnerships with the Journal, Newsweek, and CNBC, and Microsoft's own content sites MSN, MSNBC and Slate (sold to the Washington Post Company in 2004.) But, he added, "We've decided that ... actually owning media content of that ilk probably does not need to be part of our strategy."