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Politics : Formerly About Advanced Micro Devices

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To: Brumar89 who wrote (731243)	8/6/2013 2:47:59 PM
From: joseffy	Read Replies (1) of 1576140

The sale of the Wash Post totally blindsided the financially battered news industry that is feverishly trying to crack the code on how to squeeze money from the Internet and other technological innovations, while still digesting The New York Times Co.’s $70 million sale of The Boston Globe and The Worcester Telegraph & Gazette last week to Red Sox owner John Henry for a tiny fraction of what the Times Co. paid for them decades ago. Times Co. chairman and publisher Arthur Ochs Sulzberger Jr., who recently told The Daily Beast that a robust and competitive Washington Post is essential to the long-term health of his own family-controlled newspaper, was said to be “stunned” by the sale, which the Post Co. secretly initiated with the Allen & Co. investment bank to find qualified bidders. thedailybeast.com Donald Graham choked up as he announced the sale to dumbfounded employees in the converted pressroom that serves as the company auditorium. Graham’s loss of composure came as he was finishing up reading from a prepared statement about the transaction.

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