New York Times Unloads Red Sox Stake

    Boston Red Sox's John Lackey pitches in the thid inning of an interleague baseball game against the Philadelphia Phillies, Wednesday, June 29, 2011, in Philadelphia.

    Matt Slocum / AP Photo

    The unlikely duo of The New York Times and the Boston Red Sox became a little more tenuous on Friday. The newspaper of record sold many of its shares in the Fenway Sports Group, which includes the baseball team, for $117 million. The company sold 390 units, greatly reducing its stake from 17 percent to 7.3 percent. The Times Co. said that after today’s deal, it hopes to pocket a pretax gain of $64 million.

    Read it at Boston.com