Will the New York Times Co. Let the Boston Globe Survive?
Yet another newspaper, The Boston Globe, is on the verge of being shut down. And Wall Street is commending the Globe’s parent company for its frugality: NYT (NYT) stock was up almost 10 percent in Monday’s trading. Boston’s paper of record suspended talks Monday without a deal, with its largest union, the Boston Newspaper Guild. The Globe’s parent, the New York Times Company, threatened to shut the paper down if it couldn’t find $20 million in savings from its union deals. The paper has struck sufficient agreements with its other unions that the Times will hold off on starting the 60-day shut down process of the Globe, for now.
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- Will the New York Times Co. Let the Boston Globe Survive?
