Times Co. Begins Shopping Around Globe

Boston Globe
The New York Times Co., which just Monday night announced it was imposing a 23 percent pay cut on the staff of the Boston Globe, has hired an investment bank to manage the possible sale of the Globe and plans to request bids for the paper in the next few weeks, potential bidders told the Globe under request of anonymity.

“That doesn’t mean they have said they are going to sell it. They’ve just said they are willing to entertain bids. But it sure indicates an interest,” one potential buyer told the Globe.

Both Times Co. and Globe execs declined to comment.