Pinch's folly: The Boston Globe purchase

The American Thinker quotes a Wall Street Journal story on Pinch:

When the New York Times Co. bought the Boston Globe in 1993 for $1.1 billion, the family-run New York newspaper said it was betting heavily on the future of the highly educated, affluent Boston market.

But now that brainy, well-heeled populace turns out to be on the leading edge of a digital migration that is pummeling the Boston Globe so badly that it is on track for its first unprofitable year in its recent history, according to people familiar with the company’s finances.

I guess the urban crowd isn't growing.