Thursday, February 21, 2013

New York Times puts Boston Globe up for sale again

The New York Times Co is putting The Boston Globe on the auction block for a second time as it seeks to focus solely on growing its flagship newspaper, the company said on Wednesday.
The sale, which will also include the Worcester Telegram & Gazette, is expected to come at a big loss as newspapers struggle for subscribers and advertisers in the digital age, Reuters reports.
Ken Doctor, an analyst with Outsell Research, estimated that the Globe could fetch about $150 million. The New York Times paid $1.1 billion for the newspaper in 1993.
Once the Globe and the Telegram & Gazette are sold, the New York Times Co will be down to the flagship paper and its international edition, the International Herald Tribune.

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