Red Sox Owner Offers to Buy Boston Globe

(NEWSER) - The New York Times Company has hired Goldman Sachs to handle a possible sale of the Boston Globe, the Globe reports. Goldman, which has also been trying to help the Times Co. unload its 17.5% stake in the Red Sox, has been telling prospective buyers it would accept bids after June 8, regardless of the outcome of the vote on pay and benefit cuts by the Globe's largest union. More»

Globe staffers analyze parent company's treatment of once great paper

(NEWSER) - The Boston Globe is delving into the stunning fall of a once-great institution: itself. Keith O'Brien and Robert Weisman trace the decline back to 1993—when the New York Times Co. bought the "jewel of an asset" for a staggering $1.1 billion—to the unimaginable present, as the Times Co. threatens to shutter New England's premier daily. More»

As newspapers tank, company offloads non-core assets

(NEWSER) - With revenues plummeting and advertisers and readers fleeing, the cash-starved New York Times Co is looking to offload a once-sacrosanct asset—its 17.5% stake in the Boston Red Sox and Fenway Park, the Wall Street Journal reports. Revenues at the Times Co arm that includes the Grey Lady and the Boston Globe fell 22% last month, and the company is scrambling for capital to shore it up. More»

(NEWSER) - The Boston Globe's biggest union has ended a four-month battle with the New York Times company and voted to accept $10 million in pay and benefit cuts, the Boston Herald reports. Union members—who have been living with a 23% pay cut since rejecting an 8.3% decrease last month—approved a 5.9% wage slice by a wide margin. The deal also includes 8 unpaid work days, a pension freeze and no health insurance for retirees. More»

Paper's top union wants stake in broadsheet

(NEWSER) - A Boston real-estate and investment firm is considering buying the Globe from the New York Times Company, and the paper’s biggest union wants a piece, too, the Herald reports. Intercontinental Real Estate Corp. says it’s been in talks for weeks to purchase the beleaguered newspaper. More»