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(NECN) - The New York Times Co. announced Wednesday it's planning to sell the New England Media Group, which includes the Boston Globe.
According to a press release, the company says Evercore Partners will advise them and help with the sale.
New York Times Co. President and CEO Mark Thompson says the plan to sell the group shows will help the Gray Lady's brand.
"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," Thompson says in the press release.
The biggest parts of the New England Media Group are the Boston Globe, BostonGlobe.com, Boston.com, Worcester Telegram & Gazette, Telegram.com and GlobeDirect, which is the Boston Globe's direct mail marketing company.
See the press release here.