New York Times Prepares To Sell The Boston Globe

NEW YORK– The New York Times Company (NYSE: NYT) today announced that it plans to sell its New England Media Group, including The Boston Globe and its related properties, and that it has retained Evercore Partners to advise the Company and manage the sales process.

“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 CEO of The New York Times Company. “The Boston Globe and the Worcester Telegram & Gazette are outstanding newspapers and they and their related digital properties are well-managed leaders in their markets with real opportunities for future development. We are very proud of our association with the Globe and the Telegram & Gazette, 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.” (more…)

This article was printed from https://deadline.com/2013/02/new-york-times-sell-boston-glob-435365/