English Lessons

DIRECTIONS: Read the following and answer all the questions?
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Newspaper publisher the New York Times sold more than half its 17 percent stake in the company that owns the Boston Red Sox, according to a filing with the Securities and Exchange Commission Friday.

Three separate buyers, whose names have not been disclosed, together paid $117 million in cash for 390 of its 700 shares in Fenway Sports Group. The New York Times [NYT  8.71    -0.01  (-0.11%)   ] is looking for buyers of the remaining shares.

The sale is one the company has been trying to make since 2008, when revenue at its core newspaper businesses took a hit, jeopardizing its ability to manage its debt.

The sale will be reflected as a pretax gain of about $64 million in its third quarter. Web-hosting company Go Daddy Group announced on Friday it is being bought by a private equity consortium led by KKR and Silver Lake.

The private equity buyers, which also include Technology Crossover ventures, wouldn't say how much the deal is worth but a person close to the situation said it's about $2.25 billion. About half of that amount is debt, the Wall Street Journal reported.

"We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of Web based businesses and because their values align with ours," Go Daddy CEO and founder Bob Parsons said in a statement. "We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth."

Go Daddy filed to go public in 2006, but withdrew its IPO due to poor market conditions.

Qatalyst Partners served as the exclusive advisor to Go Daddy in connection with the transaction.

Barclays Capital, Deutsche Bank Securities and RBC Capital Markets acted as financial advisors and, along with KKR Capital Markets, they or their affiliates provided financing commitments for the transaction.

Newspaper publisher the New York Times sold more than half its 17 percent stake in the company that owns the Boston Red Sox, according to a filing with the Securities and Exchange Commission Friday?

A. TRUE
B. FALSE  

Go Daddy filed to go public in 2006, but withdrew its IPO due to poor market conditions? 

A. TRUE
B. FALSE