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US: New York Times wants to shake off the Boston Globe

By  |  February 20, 2013

According to recent reports, the New York Times Co. is officially looking into selling the Boston Globe. The Globe remains as the only business owned by the Times outside of the NYT brand. Reports say the Times has hired Evercore Partners Inc. to advise a potential sale, announced in a statement from the news publisher. For more than a year the Times has been divesting its non-Times branded assets of various newspapers as well as About.com in the midst of a tumultuous era for print media. This marks the second time the Times has looked into the transaction; in 2009 the Times attempted to sell the Globe and bids reached as high as $33 million. The deal was botched, however, thanks to uncertainties in the Globe’s pension liability, as estimates ranged from $110 million to $240 million.

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