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New York Times hires Goldman to sell Globe: report

(Agencies)
Updated: 2009-06-11 09:09

The guild in its statement said it likes the idea of union members getting a stake and board representation along with the paper's owners.

It pointed to a similar situation at the Portland Press Herald in Maine, which the Blethen family is selling to a group of investors. The Portland Newspaper Guild is getting a limited ownership stake in the Press Herald.

The Times is trying to pay off hundreds of millions of dollars in debt, and is looking for someone to buy its 17.5 percent stake in the company that owns the Boston Red Sox baseball team, the Fenway Park ball field and other properties in Boston.

Investment bank Goldman Sachs is fielding offers on New England Sports Ventures, the Red Sox's parent company. It also is working on the Globe process, the paper reported.

A New York Times spokeswoman declined to comment.

 

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