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New York Times Puts Boston Globe up for Sale again

Wednesday, 20 Feb 2013 03:55 PM

 

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Feb 20 (Reuters) - The New York Times Co plans to sell The Boston Globe for a second time as it attempts to shed one of its last properties, according to a company statement.

Evercore Partners has been retained as advisers in the sale, which also includes the Worcester Telegram & Gazette, the company said.

The New York Times tried to sell the Globe in 2009 as the newspaper struggled with losses, but decided against it after winning concessions from Globe's unions and implementing cost cuts.

Once a sprawling media conglomerate, the New York Times owned magazines, dozens of newspapers, TV and radio stations, sports clubs like the Boston Red Sox, cable channels and Internet properties such as About.com.

But it has shed almost all of its assets in recent years. It now owns the flagship newspaper and the International Herald Tribune. (Reporting By Jennifer Saba in New York; Editing by Leslie Gevirtz)

© 2014 Thomson/Reuters. All rights reserved.

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