NYT Co. pulls Worcester Telegraph from auction block
Posted by Lisette García on December 8, 2009 at 2:52 PM
The New York Times Co. yesterday announced that it has abandoned plans
to sell a Massachusetts newspaper due to a transformation of its
"journalistic and business operations," Agence France-Presse reported
yesterday.
Times Co. chairman Arthur Sulzberger and chief executive Janet Robinson were quoted by AFP as saying the following in a memo to employees of the Worcester Telegram & Gazette: "We are convinced that in partnership with the Boston Globe you are now prepared to move forward to a brighter future."
Times Co. chairman Arthur Sulzberger and chief executive Janet Robinson were quoted by AFP as saying the following in a memo to employees of the Worcester Telegram & Gazette: "We are convinced that in partnership with the Boston Globe you are now prepared to move forward to a brighter future."
The Times Co. also withdrew The Boston Globe from sale in October,
possibly due to paltry offers, The Boston Globe then observed.
Yesterday's announcement of improved finances at The Times Co. subsidiary coincided with the deadline for staffers at its flagship newspaper to voluntarily resign, according to Business Insider. The Times offered buyouts in October, hoping to cut 100 members of the editorial team by year's end without resorting to compulsory layoffs. An unnamed employee of The Times was quoted by Business Insider as saying that a second round of layoffs was expected in 2010.
Yesterday's announcement of improved finances at The Times Co. subsidiary coincided with the deadline for staffers at its flagship newspaper to voluntarily resign, according to Business Insider. The Times offered buyouts in October, hoping to cut 100 members of the editorial team by year's end without resorting to compulsory layoffs. An unnamed employee of The Times was quoted by Business Insider as saying that a second round of layoffs was expected in 2010.
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