Thursday, June 11, 2009

New York Times Seeks Buyer for Boston Globe

The New York Times Co., while furiously slashing costs at the Boston Globe, has hired an investment bank to shop the paper around, the Globe disclosed yesterday.

The report, which came after the company cut the pay of Globe journalists by 23 percent, said the information came from two people interested in making a bid for New England's largest newspaper. But whether a serious buyer emerges for the money-losing daily is an open question.

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