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The Times already has made rounds of layoffs, cut its dividend as well as most recently taken a $225 million loan on its stake in its new Manhattan headquarters. But, should the Gray Lady go as far as selling its stake in the storied Major League Baseball franchise?
"Sports teams are high on the list when media companies look to sell noncore assets, typically because they command strong valuations and generate limited amounts of cash flow," Fitch Ratings analyst Mike Simonton told Reuters. Henry Blodget, former Wall Street analyst and current blogger, was one of the earliest proponents of selling the Sox, dating back to October posts on his Silicon Alley Insider blog. But there are some skeptics who also point out that now is not the time to put a sports franchise on the auction block. Lending is tight, and bids may be lower than expected because of the limited money supply. Look at the Chicago Cubs, who are still waiting for a bid it deems appropriate. And now the Cubs have competition from rival National League franchise the San Diego Padres, which hired Goldman, Sachs & Co. to explore a possible sale. The Times was part of the group led by hedge fund manager John Henry that bought the team, Fenway Park and an 80% stake in New England Sports Network, a regional cable sports network, for $700 million including debt during the off-season in 2002. - Gerald Magpily See Reuters story See AlleyInsider.com post Dealscape: Cashing out is a Catch-22 for New York Times CategoriesComments Deal Video
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It's no secret that media company New York Times Co. is searching for extra cash to keep its struggling company afloat. One option some analysts and bankers are suggesting, according to Reuters, is that the Times could score some cash -- up to $200 million to be exact -- via a sale of its 17% stake in the Boston Red Sox. 
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very informative story...... in researching more about hedge funds I came across a few books that I love... Hedge Fund Trading Secrets Revealed by Robert Dorfman... and Confessions of a ]Street Addict by Jim Cramer....both these books take you on a great ride about how hedge funds operate