'Jewel' Soon Was Tarnished for NY Times Co.: Globe

(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»

(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»

Paper likely to remain in business as employees take major cuts

(NEWSER) - The Boston Globe and its largest union struck a tentative deal early this morning that will likely keep the newspaper's owner, the New York Times Company, from shutting down the title. The union representing more than 600 employees in the editorial and advertising divisions was the last holdout in negotiations at the struggling paper, which is expected to lose $85 million this year. More»

(NEWSER) - The leaders of the Boston Globe’s biggest union have given themselves substantial raises over the past 3 years, even as the people they represent went without, the Herald reports. Boston Newspaper Guild president Dan Totten—who recently lambasted New York Times Co. execs for giving themselves extra days off as negotiations over the paper’s future rage—has seen his salary jump 12%. More»