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NY Times to sell Boston Globe

Associated Press

Publication: theday.com

Published 02/20/2013 12:00 AM
Updated 02/20/2013 04:05 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 MetroBoston, a free daily newspaper for commuters.

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