New York Times puts Boston Globe up for sale

Feb 20, 2013
The Boston Globe headquarters are seen May 4, 2009 in Dorchester, Massachusetts. The New York Times, facing a difficult environment for newspapers in the digital age, announced Wednesday a plan to sell The Boston Globe and other New England assets.

The New York Times, facing a difficult environment for newspapers in the digital age, announced Wednesday a plan to sell The Boston Globe and other New England assets.

The Times said in a statement that it has hired Evercore Partners to advise the company and manage the sale process. The company aims to streamline its assets to promote its own marquee brand.

"Our plan to sell the Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New York Times brand and its journalism," said Mark Thompson, president and chief executive of The Company.

Besides the Globe, the other assets up for sale are: Boston.com, The Worcester Telegram & Gazette, Telegram.com and GlobeDirect, the Globe's direct mail marketing company. Also included in the sale is the company's 49 percent interest in Metro Boston.

"There can be no assurance that any transaction will take place," the company said in a statement.

Explore further: Airbnb rental site raises $450 mn

add to favorites email to friend print save as pdf

Related Stories

Boston Globe to launch paid website

Sep 30, 2010

Taking a page from its parent company The New York Times Co., The Boston Globe will begin charging for full access to its website next year, the newspaper announced on Thursday.

New York Times suffers quarterly loss

Jul 21, 2011

The New York Times Company said Thursday it lost $120 million in the second quarter, as income from digital subscriptions failed to make up for a steep write-down of its print newspaper assets.

Recommended for you

Ex-Apple chief plans mobile phone for India

16 hours ago

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

Apr 19, 2014

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

US venture investments highest since 2001 (Update)

Apr 18, 2014

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

User comments : 0

More news stories

Ex-Apple chief plans mobile phone for India

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

A homemade solar lamp for developing countries

(Phys.org) —The solar lamp developed by the start-up LEDsafari is a more effective, safer, and less expensive form of illumination than the traditional oil lamp currently used by more than one billion people ...

NASA's space station Robonaut finally getting legs

Robonaut, the first out-of-this-world humanoid, is finally getting its space legs. For three years, Robonaut has had to manage from the waist up. This new pair of legs means the experimental robot—now stuck ...