J.P. Morgan Analyst Gives Boston Globe Hope
Beleaguered newspaper The Boston Globe had a hopeful story today about the possibility of its survival.
According to the paper, J.P. Morgan analyst Alexia Quadrani has said that the Globe‘s owner, the New York Times Co., appears to be committed to the Boston paper “long term.”
Last month, the Times Co. threatened to close the Globe if its unions did not agree to $20 million in budget cuts. Many have suspected that the cuts — currently being mulled by union members — were leading up to a potential sale.
But in a research report sent to investors Wednesday Quadrani said Times Co.
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