New York Times Co. to Close Boston Globe?

The Boston Globe, one of the most acclaimed and profitable U.S. newspapers ever, may be closing down.

Analysts say the 137-year-old Globe, which was bought by the New York Times Co. in 1993, has been a money-loser in recent years and the Times, now $1.1 billion in debt, is threatening to shut down the Globe unless it gets $20 million in union concessions. The company was in negotiations with the union as of April 6.

The threat to the Globe, announced April 3 on the Globe’s website, has shocked some industry insiders, who say it shows no one is safe in the troubled economic times.

Stay tuned.


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