Saturday, January 29News That Matters

The New York Times to acquire The Athletic for $550 million

CNBC’s Julia Boorstin reports on ‘Closing Bell’ that The New York Times will acquire The Athletic for $550 million.


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  • Matt Lechner

    You under-estimate the value of your own brand. Your competitors are not the New York Post and the Daily News. Your competitors are USA Today, FoxNews, MSNBC, CNN, and in business the WSJ. You are not in the sports business, not in a fundamental way. It's tinsel on your tree, forgive the comparison. General Electric "missed the boat" in relation to the internet – a tragic mistake that they compounded by diving in to politics. It was the worst mistake in the history of GE. You "missed" cable news – also a tragic mistake, however it is one you can still recitfy. That does not mean you have to become a book-end contra to FoxNews, but you can not afford to "opt out" of cable news either. Nor the rainbow of internet communications channels. You want to become the F-150 of the electronic news business, and you have the ability to do it, if you try. I understand what you're doing, you're hoping to cash in on sports betting. Let me break the bad news to you – as soon as people figure out that sports betting in the "new" format is just as stupid and bad as sports betting in the "old" formats – your investment will become kitty litter. You are not a sports franchise. You are a news franchise. Figure out how to use your brand to start wedging your way in to the cable news business, without becoming another one of the stupid ones. You can do it, and you need to – or you may find Donald Trump wanting to buy you out. and don't think for a minute that He wouldn't.

  • Matt Lechner

    very unwise, back out of it if you can. You're getting your ears pinned back in the basic news business these days, and more sports coverage isn't going to help that.

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