The New York Times Company had originally intended to sell the Boston Globe newspaper company because of its financial struggles, but now the situation has turned around for The Boston Globe. However, Times Co. still plans to sell the newspaper, despite the fact that it could continue running the newspaper.
According to Times Co. executives, the process of selecting a buyer will not only depend on price, but also on how well the executives think that the new owner would be able to run the newspaper. Times Co. broke the news to several hundred Globe employees during two close hour-long sessions.
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The newspaper industry in the United States is massively struggling. The latest evidence is the news that the owners of the Boston Globe have threatened to shut down the newspaper if they don’t get a number of concessions from union leaders.
The collapse of the Boston Globe would be another shocking failure in the newspaper. Founded in 1872, the Boston Globe currently has more than 300,000 daily subscribers. Not only is it the most popular newspaper in Boston, it’s the most popular newspaper in all of New England.
The main problem for the newspaper industry is the dropping advertisement dollars spent within …read more