Times co. threatens to shut down Globe

The New York Times Co. has threatened to shut the Boston Globe unless the newspaper's unions swiftly agree to $20 million in concessions, union leaders said.

Executives from the Times Co. and Globe made the demands Thursday morning in an approximately 90- minute meeting with leaders of the newspaper's 13 unions, union officials said. The possible concessions include pay cuts, the end of pension contributions by the company and the elimination of lifetime job guarantees now enjoyed by some veteran employees, said Daniel Totten, president of the Boston Newspaper Guild, the Globe's biggest union, which represents more than 700 editorial, advertising and business office employees.

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RightinNYC said:

Times co. threatens to shut down Globe - Daily Business Update - The Boston Globe

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bhkad said:

It's not clear how this could happen.

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The New York Times Company also owns The Boston Globe, the International Herald Tribune, almost two dozen other regional newspapers in the United States (15 of which publish daily), and one New York City radio station, WQXR. In 2005, its Broadcast Media Group included 35 web sites, including NYTimes.com, Boston.com and About.com.[5]

In addition, it is a minority stakeholder in the Boston Red Sox, a position acquired as part of John W. Henry's purchase of the famed baseball team.

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