How being a tax dummy cost the New York Times $60M - Term Sheet:
Because the Times not only made a disastrous, overpriced purchase, but also used a tax structure that assumed that it would own the Globe forever. As a result, the Times Co., which unloaded the Globe for a pittance last month, is missing out on a tax break that would have been worth almost as much as the "approximately $70 million" that Boston Red Sox owner John Henry paid it for the Globe and its other financially disastrous Massachusetts purchase, the Worcester Telegram & Gazette.
It's really kind of funny. Unless you're a Times Co. shareholder, in which case it's no laughing matter.