| July 5, 2009 Initial bids due this week to buy The Boston Globe
|
BOSTON (AP) - A deadline is approaching for the possible sale of
The Boston Globe.
The New York Times Co., which owns the Globe, has set a
Wednesday deadline for initial, nonbinding bids. That's according
to a confidential letter sent by Goldman Sachs to potential buyers.
The letter was obtained by the New York Times.
The letter says after the initial bids, the company will decide
which potential buyers will participate in a second round of
bidding.
Potential buyers could include Boston Celtics co-owner Stephen
Pagliuca, Partners HealthCare chairman Jack Connors and Stephen
Taylor, a former Globe executive whose family sold the newspaper to
the Times Co. in 1993.
The Times Co. has said the Globe had $50 million in operating
losses in 2008.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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