New York Times puts Boston Globe up for saleFebruary 20th, 2013 in Technology / Business
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 New England 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 New York Times 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.
(c) 2013 AFP
"New York Times puts Boston Globe up for sale." February 20th, 2013. http://phys.org/news/2013-02-york-boston-globe-sale.html