New York Times To Sell Boston Globe

According to a recent report, the heralded newspaper company is saying goodbye to another one of its outside businesses.

The New York Times Company is exploring buyers for the Boston Globe, as it turns its focus to its core newspapers, the Times and International Herald Tribune. The sale also will include the newspaper corporation's 49% stake in Metro Boston, the Worcester Telegram & Gazette, and Telegram.com according to a staff memo posted on Politico.

Earlier this month, the Times reported an uptick in revenue, thanks in large part to its sale of non-New York Times products including About.com.

In an email to staffers, Arthur Sulzberger Jr. and CEO Mark Thompson, confirmed the news, after it had been broken by numerous competing news sources:

"The sale of the New England Media Group will allow us to sharpen our strategic and financial focus on The New York Times brand," the statement read. "This was not an easy decision as the New England Media Group has, for many years, brought tremendous value to our Company. While part of the Times Company, The Boston Globe has been awarded 10 Pulitzer Prizes and many other professional awards."

[Picture courtesy of Flickr user flodigrip]

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