New York Times again plans to sell Boston Globe
Washington, Feb 21 2013, 13:07 IST
American newspaper The New York Times said that it is putting The Boston Globe and its related assets up for sale.
Mark Thompson, the Times’ chief executive, said that a sale would be in the best long-term interests of both properties, “given the differences between these businesses and The New York Times.”
According to the Washington Post, the move comes four years after it called off a previous attempt to sell the newspaper.
Thompson said the sale would help the company focus on The New York Times’ brand and allow the company to devote more resources to journalism.
The Times bought the Globe in 1993 for 1.1 billion dollars from the family of Stephen Taylor, a former Globe executive.
But the newspaper has faced difficulties in recent years as advertisers cut spending on newspapers and moved more ads online, the Post said.
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