Reuthers says:
The New York Times Company has sold its broadcast group,
including nine television stations, for USD 575m (EUR 438m) to private
equity firm Oak Hill Capital Partners in order to concentrate on its
newspaper business.
(Well, this is wrong, they are not to concentrate on its newspaper business… more later)
The deal is expected to close in the first half of this year, and
includes affiliates of the ABC, NBC and CBS networks in Iowa, Arkansas,
Alabama, Tennessee, Illinois, Virginia, Pennsylvania and two in
Oklahoma.
The announcement that The New York Times Company is selling its TV broadcasting stations is good news.
No, they are not leaving the multimedia strategy.
What they are saying is NO to the old multi-media holding strategy.
As INNOVATION says: “From media companies, to multimedia engines.”
The New York Times believes in video, not in TV stations.
These are today different business.
We are not anymore in the “newspaper”, “radio” or “television” business.
We are, The New York Times is, in the new multimedia strategy.
On text.
On video.
On sound.
Three languages.
One media business.
On and off line.
In the right direction:
First, Diversification.
Then, Convergence.
And at the end, Integration.
This is the future.
