Boston Globe editor: ‘We’re a stable enterprise. We’re a cash positive enterprise’

Boston Globe editor Brian McGrory spoke yesterday at the MIT Center for Civic Media. Here’s what he said, according to the live blog that “may contain errors”:

— The Globe, which is on the market, is getting a lot of interest from Boston investors as well as New Yorkers. “The books are going out to interested suitors, and we don’t know what the future holds.”
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— The ‘dirty secret’ of newspapers is that classified ads once funded most of print journalism.

— “There was one Sunday paper that weighed up to 10 pounds, just filled with classified advertising. The Globe once made 160-180 million dollars a year on these ads. That money has been lost to Monster.com, Craiglist and others and it’s not coming back.”

— What Boston would be like without the Globe:

* Whitey Bulger would still be killing with impunity – the Globe broke the story of his connections with the FBI,
* Cardinal Law could be sending one pedophile priest after another to towns across the state, and
* The probation dept would still be run like a criminal enterprise.

— “I come into this space not steeped in our digital side. I’ve been very upfront about that. That doesn’t mean I don’t appreciate that side; it’s our future.”

* Brian McGrory on the Boston Globe’s new frontiers (mit.edu)

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