Ben Gilbert: belief

Transcript context

…Yeah. They took about $100–$125 million loss. In 2013, they sell The Boston Globe and the other New England papers to John Henry. I don't remember what the price was. It's a lot less than a billion dollars, though. Amidst all these, I think by 2013, that $3¼ billion of revenue that I previously referenced was down to $1. 4 billion. All these divestitures, not to mention all these people who are no longer paying for newspaper subscriptions, really started to dry up that revenue. Yeah. This is when the narrative of The Times is effed is at its strongest, the "failing New York Times." But all these transactions that they do are freeing up tons of cash and are paying off this debt. The end of these transactions have generated about $1 billion in asset sales that have all gone to pay down the debt.…

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