New York Times taking bids on Boston Globe

BOSTON (AP) - June 10, 2009

The Globe, citing two potential buyers who wished to remain anonymous, reported Wednesday that Goldman Sachs has begun accepting bids for the 137-year-old newspaper. That was before the Boston Newspaper Guild, the Globe's largest union, voted Monday to reject $10 million in pay and benefit cuts demanded by the company.

The company responded by cutting pay 23 percent.

The Globe lost $50 million last year and is on track to lose $85 million this year.

A Globe spokesman declined comment Wednesday. A Times Co. spokeswoman said the company does not comment "on rumors concerning potential acquisitions or divestitures."


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