New York Times to sell Boston Globe
February 21 , 2013
The New York Times Company revealed on Wednesday its plans to sell the Boston Globe in order to focus on its flagship newspaper.
It has chosen Evercore Partners to advise it on the sale, which also includes the Worcester Telegram & Gazette and a 49 percent interest in Metro Boston.
The Times previously tried to sell the Globe in 2009 but decided against it after cutting down on costs and winning concessions from trade unions.
At one time, the New York Times owned dozens of newspapers along with television and radio stations and sports clubs. However, in recent years it has been forced to sell off most of its assets.
The sale of the Globe and the Telegram & Gazette will leave it with just its namesake newspaper and the International Herald Tribune.
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