New York Times to sell Boston Globe
New York—The New York Times Co. announced its plans to sell its New England Media Group, including The Boston Globe and related properties. The company said it has retained Evercore Partners to manage the sales process.
The New England Media Group includes The Boston Globe, BostonGlobe.com, Boston.com, Worcester Telegram & Gazette, Telegram.com and GlobeDirect, a direct mail marketing company.
“Our plan to sell the New England Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New York Times brand and its journalism,” said Mark Thompson, president-CEO of The New York Times Co., in a statement.
The sale is in the best interest of both businesses given their differences, he said.