New York Times Scraps Plan to Sell Boston Globe

NEW YORK -- The New York Times Co said it has given up its plan to sell The Boston Globe and related businesses after drastic cuts it imposed on the daily newspaper earlier this year improved its financial position. The announcement caps a painful odyssey for the 137-year-old Boston Globe that began earlier this year when the Times threatened to close the paper if it could not get its unions to agree to deep cost cuts.
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Posted by Editor at October 16, 2009 01:08 AM