Times May Sell Globe

Media Death Watch

Updated Apr. 25, 2017 2:53PM EDT / Published Jun. 10, 2009 5:34AM EDT

It's not over for the Boston Globe... yet. The Associated Press reports that the New York Times Co. has hired Goldman Sachs to “manage the possible sale” of its Boston-based paper. Reportedly, two anonymous buyers have bid for the 137-year-old paper, which lost $50 million last year and is projected to lose $85 million this year. However, the bids apparently came in before the Boston Newspaper Guild, the Globe's largest union, voted to reject the Times-mandated $10 million in pay and benefit cuts on Monday, and ended up slapped with a 23 percent pay cut instead.

Read it at Associated Press

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Times May Sell Globe