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NY Times Co. Takes Bids On Boston Globe
By
Jen Chung
Published Jun 10, 2009
Modified Jun 10, 2009
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By
Jen Chung
Published Jun 10, 2009
Modified Jun 10, 2009
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After the Boston Globe's largest union rejected a contract on Monday, the Globe's owner, the New York Times Co., is now seeking bids for the newspaper. According to the Globe, the Times Co. was interested in getting bids no matter how the Guild, which represents "nearly 700 editorial, advertising, and business office staff," voted, but a potential bidder said, "That doesn't mean they have said they are going to sell it. They've just said they are willing to entertain bids. But it sure indicates an interest." In the meantime, because the Guild fell short of voting for the contract with concessions, the Times Co. will save $10 million by imposing a 23% pay cut. Three other unions for the mailers, the pressmen, and the delivery truck drivers had agreed to concessions. The Times Co. has projected it will lose $85 million with the Globe without cost savings.
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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