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Article: New York Times aims to sell Boston Globe; Move follows failure of unions to agree to cost savings.(NATION)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- June 11, 2009
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Byline: Jennifer Harper, THE WASHINGTON TIMES
After months of family squabbles, the New York Times is interested in finding a new parent for its billion-dollar baby.
The Gray Lady wants to sell the Boston Globe to an as-yet unnamed buyer, according to an account in the Globe on Wednesday, following intense negotiations that failed to resolve union conflicts that have plagued the uneasy relationship between the two papers.
The Times hired Goldman Sachs to manage the sale of the 137-year-old Massachusetts paper, purchased for $1.1 billion in 1993. The parent company plans to entertain bids in the next few weeks, the Globe said, citing two ...