Boston Globe, Newspaper Union Agree On Deal

It looks like a shutdown has been averted at the Boston Globe: The Globe reports that its "largest union reached a tentative deal with the New York Times Co. shortly after 3 a.m. this morning, agreeing to a substantial pay cut, unpaid furloughs, and modifications to the lifetime job guarantee provisions that protect almost 200 employees in the Boston Newspaper Guild, according to sources familiar with the deal." The Newspaper Guild was the last holdout in talks with the NY Times Co. (which owns the Globe); three other unions already worked out agreements on concessions, after the NY Times Co. threatened to shut down a plant. The Globe lost $50 million last year and is on track to lose $85 million this year.