Thursday, October 15, 2009

Times Co. Will Hold On to Boston Globe

After months of hunting for a buyer, The New York Times Company said on Wednesday that it had decided not to sell The Boston Globe, the newspaper it threatened last spring to close because of mounting losses.

The Globe did not draw high bids, and the company chairman, Arthur Sulzberger Jr., said last month that the paper’s finances had improved enough that the company no longer believed it had to sell if the offers were not attractive enough.


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