Boston Real-Estate Firm May Buy Globe

Paper's top union wants stake in broadsheet
By Matt Cantor,  Newser Staff
Posted Jun 11, 2009 12:46 PM CDT
Boston Real-Estate Firm May Buy Globe
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)

(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.
(Read more Boston Globe stories.)

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