New York Times Sells Boston Globe at 93% Loss

New York Times Sells Boston Globe at 93% Loss:
"After purchasing the Boston Globe in 1993 for a then-record $1.1 billion, the financially troubled New York Times just announced it sold the 141 year-old paper to Boston Red Sox owner John Henry for a mere $70 million.
That's a straight 93% loss.
 Figuring in two decades of inflation would only make it worse -- as does the fact the Times retains the Globe's pension liabilities, estimated at over $100 million."