Globe Union Caves, Votes to Accept $10M in Cuts

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»

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»

Tensions high as last union works toward deal with Times Co.

(NEWSER) - Tensions are high as the last of seven Boston Globe unions tries to hammer out a deal with the New York Times Company, the Washington Post reports. The Boston Newspaper Guild has blasted the Times Co’s “bullying tactics” in negotiations set to resume as soon as today, but a sense of dread pervades the newsroom, as well: “I think people feel this isn't going to end well for us as a group in the next six, nine, 12 months,” said a columnist. 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»