NEW: Worcester Telegram, Boston Globe Up For Sale
Wednesday, February 20, 2013
The company has retained Evercore Partners to advise and manage the sales process of the two newspapers, along with the other related properties contained within the New York Times Co.'s New England Media Group.
“Our plan to sell the New England Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New York Times brand and its journalism,” said Mark Thompson, president and CEO of The New York Times Company.
“The Boston Globe and the Worcester Telegram & Gazette are outstanding newspapers and they and their related digital properties are well-managed leaders in their markets with real opportunities for future development. We are very proud of our association with the Globe and the Telegram & Gazette, but given the differences between these businesses and The New York Times, we believe that a sale is in the best long-term interests of these properties and the employees who work for them as well as in the best interests of our shareholders.”
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