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• The Boston Globe is a daily newspaper published in Boston, Massachusetts and circulated throughout New England. The Globe is owned by The New York Times Company.

  Despite the fact that the Boston Globe's "largest union rejected a $10 million package of concessions" on June 5, 2009, The New York Times Company announced on June 9, 2009, that they are not planning to close down the publication.Reuters: NY Times does not plan to close Boston Globe (June 9, 2009)

  The Times said "it would cut guild members' pay by 23 percent"iIn order to achieve the savings they need to continue to operate the Boston Globe.Reuters: NY Times does not plan to close Boston Globe (June 9, 2009)

• Fast Facts

  1. Headquarters: 135 Morrissey Boulevard, Boston, Massachusetts 02125
  2. First published: March 4, 1872 http://bostonglobe.com/aboutus/about.asp...
  3. Owner: The New York Times Company
  4. Publisher: P. Steven Ainsley
  5. Circulation: 324,000, 14th highest in the U.S. http://www.nytimes.com/2009/04/04/busine...
  6. Sunday circulation: 504,000, 11th highest in the U.S. http://www.nytimes.com/2009/04/04/busine...
  7. First quarter of 2009: The ad revenue for the NY Times Company's New England Media Group dropped by 32%; the group includes the Boston Globe http://online.wsj.com/article/BT-CO-2009...
  8. First quarter of 2009: NY Times Co. posted a net loss of $54.3 million http://online.wsj.com/article/BT-CO-2009...
  9. Available in over 10,000 retail stores
  10. New York Times Co. threatened to shut down the publication if the unions do not agree to $20 million in concessions http://online.wsj.com/article/BT-CO-2009...

• Financial Problems

  On May 6, 2009, the Boston Globe reached a tentative agreement with the New York Times company that would allow them to keep publishing. A representative for the Newspaper Guild said the breakthrough came in around 4 am. No further details will be made available until Thursday May 7, 2009 when a meeting was scheduled with the Newspaper Guild.FoxNews: Deal Struck to Save Boston Globe Newspaper (May 6, 2009)

  In April 2009, The New York Times Company demanded that the Boston Globe's unions provide $20 million in concession fees or risk having the paper shut down. Paying the concession fee could result in pay cuts, discontinuation of pension contributions and the elimination of lifetime jobs. The Globe had seen a decline in profit in recent years.

  
  

• Related Pages on Mahalo

  The New York Times | The Washington Post | Chicago Tribune | The Wall Street Journal | The Washington Times

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