After Threats, NY Times Co. Talks W/Boston Globe Unions

Last month, the financially battered NY Times Co. had suggested it would close the Boston Globe, Massachusetts' biggest paper, because the paper lost $50 million last year and was on track to lose $85 million this year. Late last night, the Globe reports the Times made this threat: "Agree to major financial and contract concessions, including the abolition of lifetime job guarantees for some workers, or the Times Co. would begin the shutdown process." Currently two unions have made deals but negotiations are still continuing with the pressmen's union and the Boston Newspaper Guild. The Times bought the Globe in 1993 for $1.1 billion; it is also looking to sell its stake in the Boston Red Sox.

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By Jen Chung in News on May 4, 2009 8:10 AM

Comments [rss]

PKinNYC

do people in Boston know how to read...shut it down...

ides_of_march

One less left-wing rag. Good riddance.

Mr Mel

"the unions can't have want they want and their members need the jobs."

Sorry, it should read:"the unions can't have what they want and their members need the jobs."

Mr Mel

The unions better make a deal or there'll be no newspaper to work for. The papers can't be squeezed anymore than they have been. With unemployment running high and large newspapers folding, the unions can't have want they want and their members need the jobs.