The New York Times Co. (NYT) hired Goldman Sachs to manage the possible sale of the Boston Globe, the Globe reported, citing two people who said they may make offers on the newspaper. The company reportedly plans to request bids for the major daily in the next couple of weeks.
In the last two weeks, three of the newspaper's four major unions approved concessions giving $10 million back to the Times Co. although the largest union on Monday fell 12 votes short of approving another $10 million in concessions.
The Members of the Boston Newspaper Guild rejected the package by a vote of 277 to 265, a proposal by the Globe's parent, New York Times to cut costs at the unprofitable publication.
On Monday, Boston Globe said it would implement a 23% wage cut after the company's largest union rejected a package of wage and benefits cuts that the parent company The New York Times had deemed necessary to keep the daily alive.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.