Real estate mogul Donald Trump is interested in getting into the newspaper business. Yes, that isn't a misprint. The New York Magazine reported Tuesday that Trump "has engaged in more than one meeting to discuss how he might buy the Grey Lady."
What would this mean if the billionaire with bad hair bought New York Times Co.? It would mean one of the last great staples in journalism, and newspapers, is dead completely.
The paper is left-leaning, yes, and it has had a number of controversies over the years, but that doesn't mean it still isn't a respectable news source. With newspapers dying, off the Times is one of the last bastions left for journalists and news junkies.
In this digital limbo period that the newspaper business is in, the Times saw a loss of $43.7 million "in the first nine months of last year," according to CNN Money. Despite the seemingly huge loss, the Grey Lady is still trudging on every day, leading the charge for the remaining newspapers in the country.
A contributing factor to the everyday trudging are the current owners of New York Times Co., the Sulzberger Family, who have stated they are not interested in selling their controlling shares of the company. That might change though.
The company is seeing losses, mainly because advertising revenue is declining -- which is happening to newspapers everywhere. The Times' stock is down as well, which has people speculating on who might attempt to buy control of the company.
Carlos Slim, the richest man in the world and telecom giant, already has New York Times shares but whisperings are going around that he is interested in having more. But these are just rumors, and this is just a reaction editorial.
Trump is just trying to get his name back into relevance again. A media hungry ego-maniac shouldn't have control over a newspaper.