NEW YORK AP - When it bought the Boston Globe for a record $1.1 billion in 1993, the New York Times Co. added one of the nation's most acclaimed and profitable newspapers to its empire.But analysts say the 137-year-old Globe has been a money-loser in recent years, and the Times, now $1.1 billion in debt, is threatening to shut down Boston's pre-eminent paper unless it gets $20 million in union concessions.
April 06, 2009 at 12:00 AM
1 minute read
NEW YORK AP – When it bought the Boston Globe for a record $1.1 billion in 1993, the New York Times Co. added one of the nation’s most acclaimed and profitable newspapers to its empire.
But analysts say the 137-year-old Globe has been a money-loser in recent years, and the Times, now $1.1 billion in debt, is threatening to shut down Boston’s pre-eminent paper unless it gets $20 million in union concessions.
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