NY Times to sell Boston Globe

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Associated Press

Posted on February 20, 2013 at 4:02 PM

Updated Wednesday, Feb 20 at 4:04 PM

NEW YORK (AP) — The New York Times Co. says it is selling The Boston Globe and its related assets, in order to focus on its namesake newspaper.

The Times said it had hired Evercore Partners to advise it and manage the sales process.

Mark Thompson, the Times' chief executive, said in a statement that given the differences between the Globe and the Times, a sale is in the best long-term interests of both properties.

Along with the Globe, the Times is selling the Worcester Telegram & Gazette; the publications' related websites; the Globe's direct mail marketing company, GlobeDirect; and a 49 percent interest in Metro Boston, a free daily newspaper for commuters.

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