The Riches of Fleet Street

People in the news business tend to think their employers are the most cash-strapped in the nation and that real estate developers have all the dough. But apparently it is the opposite way around. Editor & Publisher reports this month on a $119.5 million loan that The New York Times Co. has agreed to give to Forest City Ratner if the developer cannot come up with money to complete its half of the newspaper company’s new headquarters on Eighth Avenue.

-Matthew Schuerman

(via Atlantic Yards Report)