New York Times to sell Boston Globe

Boston Globe The Boston Globe is the latest asset to be sold by the New York Times

Related Stories

The New York Times Company has said it plans to sell the Boston Globe and its related assets in order to focus on its namesake newspaper.

It has hired Evercore Partners to advise on the sale, which also includes the Worcester Telegram & Gazette and a 49% interest in Metro Boston.

The Times previously tried to sell the Globe in 2009 as the paper made losses.

But it eventually decided against it after cutting costs and winning concessions from trade unions.

The New York Times once owned dozens of newspapers as well as television and radio stations and sports clubs, but in recent years has shed most of its assets.

The sale of the Globe and the Telegram & Gazette will leave it with just its flagship newspaper and the International Herald Tribune.

"We are very proud of our association with the Globe and the Telegram & Gazette," said Mark Thompson, president and chief executive of the New York Times.

"But given the differences between these businesses and the New York Times, we believe that a sale is in the best long-term interests of these properties and the employees who work for them as well as in the best interests of our shareholders."

Mr Thompson took over at the New York Times in November last year, after being director general of the BBC since 2004.

More on This Story

Related Stories

From other news sites

* May require registration or subscription

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

  • Martin Gardner as a young manThink hard

    Was this man the world's greatest puzzle master?


  • Carved pumpkinTrick or treat

    What did a riot at a pumpkin festival show about race in US?


  • A woman puts on a surgical mask during hospital Ebola training in Alabama.'Dark continent'

    Is prejudice fuelling Ebola outbreak hysteria in the US?


  • Oscar de la Renta and Oprah WinfreyIn pictures

    The life and work of Oscar de la Renta


Elsewhere on the BBC

  • FutureThe future is now

    Get the latest updates and biggest ideas from BBC Future’s World-Changing Ideas Summit

Programmes

  • Smart glassesClick Watch

    Smart spectacles go into battle – the prototypes looking to take on Google Glass

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.