By Mondo Times editors
Boulder, Colorado USA
Posted on June 29, 2009 at 10:34pm

The New York Times Co. reportedly set a bid deadline for the Boston Globe and the Worcester Telegram & Gazette

-- The Boston Globe reported on June 26, 2009:

"The New York Times Co., through its investment banker, has asked potential buyers of The Boston Globe to submit preliminary bids by July 8, according to people briefed on the sale process.

The Times Co. wants to sell the Globe as part of a package that includes the Worcester Telegram & Gazette, another paper the Times Co. owns. The letter, according the people, details that the buyer would need to assume the papers’ $59 million in pension liabilities — $51 million for the Globe and $8 million for the T&G.

The Times Co. bought the Globe for $1.1 billion in 1993 and the T&G in 2000 for $295 million. The T&G is the largest daily in central Massachusetts."

The full story:
http://www.boston.com/business/ticker/2009/06/times_co_report_2.html

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