NY Times write-down of Metro Boston

The New York Times company does not have too much faith in quick profits from their investment in the Boston Metro, quoting from their Q4 results report:

“a non-cash charge of $7.1 million ($4.1 million after tax, or $.03 per share) for the write-down of our 49 percent investment in Metro Boston LLC, which publishes a free daily newspaper in the Greater Boston area. This charge is included in “Net income/(loss) from joint ventures” in our Condensed Consolidated Statements of Operations.” (Market Watch)

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