NY Times set to put some units up for sale
Source: Agencies |
August 8, 2009, Saturday
|
Print Edition
Print Edition
THE New York Times Co has enlisted Goldman Sachs to explore a sale of its New England Media Group, which owns the 137-year-old Boston Globe and other media assets.
That confirmed long-standing speculation that the media conglomerate, which is fighting a severe loss of advertising revenue and also has hundreds of millions of dollars of debt coming due in the next few years, had been looking to sell the Globe.
The New England Media Group also includes the Worcester Telegram & Gazette, its Website, and the Globe's Website, The New York Times Co said in a filing with the US Securities and Exchange Commission.
According to the Globe, two Boston groups had offered early bids to buy the Boston newspaper.
The Times has been selling or trying to sell multiple assets, including, most recently, its classical music radio station in New York City.
That confirmed long-standing speculation that the media conglomerate, which is fighting a severe loss of advertising revenue and also has hundreds of millions of dollars of debt coming due in the next few years, had been looking to sell the Globe.
The New England Media Group also includes the Worcester Telegram & Gazette, its Website, and the Globe's Website, The New York Times Co said in a filing with the US Securities and Exchange Commission.
According to the Globe, two Boston groups had offered early bids to buy the Boston newspaper.
The Times has been selling or trying to sell multiple assets, including, most recently, its classical music radio station in New York City.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
