New York Times Company Sells Boston Globe - NYTimes.com

Not a great ROI case study

"Eileen Murphy, a Times spokeswoman, confirmed that Mr. Henry would pay $70 million for the paper. That would represent a staggering drop in value for the Globe, which The Times bought in 1993 for $1.1 billion, the highest price paid for an American newspaper. At the time, The Globe was one of the nation’s most prestigious papers in a far more robust newspaper environment. But like other newspapers, it began to lose readers and advertisers to the Internet, and revenue plummeted. The Times Company has taken several write-downs related to the New England Media Group, and in February it said it was putting The Globe and other assets in the group up for sale."

New York Times Company Sells Boston Globe - NYTimes.com