Quote, unquote: Holy flipping newspapers!
The plan, according to the Globe, is to get the papers level and take them public again (Canwest shares were delisted some time back) to make a profit. Basically, they’re flipping a house, but the house is made of newspapers.-- from the Toronto Life blog, The Informer, commenting on the sale of Canwest newspapers to an investment group that put in $1.1 billion, including a whole lotta cash.
Labels: quote
posted by D. B. Scott at
2:02 pm
1 Comments:
Paul Godfrey did the same thing with the Sun newspapers back in the nineties.
He made a reported $10 million on the deal in less than a year, if I recall correctly. And he didn't even own that many shares!
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