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THURSDAY, NOVEMBER 26, 2009
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Boston Real-Estate Firm May Buy Globe

Paper's top union wants stake in broadsheet

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(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.

The firm says the Globe “fits our profile.” Meanwhile, the Boston Newspaper Guild aims to “explore with any potential new owner the possibility of an equity stake in the newspaper for its Guild employees,” its leader wrote to the Times Co. The Globe is losing money fast, and the Times Co. has hired investment banker Goldman Sachs to help land a buyer.

Boston Newspaper Guild President Daniel Totten, center, walks past reporters outside a meeting hall in the Dorchester neighborhood of Boston, Tuesday, June 9, 2009.
Boston Newspaper Guild President Daniel Totten, center, walks past reporters outside a meeting hall in the Dorchester neighborhood of Boston, Tuesday, June 9, 2009.   (AP Photo/Steven Senne)
Boston Newspaper Guild President Dan Totten, left, walks to meet with reporters outside The Boston Globe building in the Dorchester neighborhood of Boston, Monday June 8, 2009.
Boston Newspaper Guild President Dan Totten, left, walks to meet with reporters outside The Boston Globe building in the Dorchester neighborhood of Boston, Monday June 8, 2009.   (AP Photo/Charles Krupa)
The Boston Globe sign hangs on the side of the newspaper's headquarters in Boston, Monday 8, 2009.
The Boston Globe sign hangs on the side of the newspaper's headquarters in Boston, Monday 8, 2009.   (AP Photo/Eric J. Shelton)
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