MediaBuyerPlanner: The New York Times Co., staying true to its claim that The Boston Globe was not for sale, has denied a request from a group of prominent Boston businessmen to purchase the paper.
Times Co. chief executive Janet Robinson wrote in a letter that the Globe remains an important asset to the company, and that there was no interest in pursuing a sale, according to Editor & Publisher. The letter was in response to a letter from former GE chief executive Jack Welch, in which Welch asked for exclusive rights to negotiate with the Times Co.
Welch’s group has no plans to abandon their effort, according to executives close to the situation.
Advertising revenue for The Times Co.’s New England Media Group (led by the Globe) reported last month fell 10 percent in the first nine months of this year compared with the same period a year earlier. Circulation revenue fell 6.2 percent.
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- Boston Globe Auctions Off Front-Page Help Wanted Ads
