If Merrill Lynch or Citibank can get foreign investors ready to buy shares from financial institutions, why not newspaper companies?
They have sale prices!
The New York Times Company market value is today less than $2.3 billion. The Washington Post Company, less than $7.7 billion. And Gannett, less than $7.9 billion.
By agreeing to purchasing a $7.5 billion stake in the faltering banking giant Citigroup, the secretive, government-controlled Abu Dhabi Investment Authority is the largest sovereign wealth fund in the world, with assets estimated at $650 billion.
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