The New York Times Company (NYSE:NYT) announced today the completion of
the sale of its New England Media Group to an acquisition company owned
by John W. Henry, the principal owner of Fenway Sports Group, for $70
million in cash, subject to customary adjustments. The company intends
to use the net proceeds for general corporate purposes.
The principal properties that make up the New England Media Group are:
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The Boston Globe
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BostonGlobe.com
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Boston.com
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Worcester Telegram & Gazette
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Telegram.com
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GlobeDirect, the Globe’s direct mail marketing company
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those predicted by such forward-looking
statements. These risks and uncertainties include risks detailed from
time to time in The New York Times Company’s publicly filed documents,
including the company’s Annual Report on Form 10-K for the year ended
December 30, 2012. The company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of
new information, future events or otherwise.
The New York Times Company (NYSE:NYT) is a global media organization
dedicated to enhancing society by creating, collecting and distributing
high-quality news and information. The company includes The New York
Times, International New York Times, NYTimes.com,
international.nytimes.com and
related properties. It is known globally for excellence in its
journalism, and innovation in its print and digital storytelling and its
business model. Follow news about the company at @NYTimesComm.
This press release can be downloaded from www.nytco.com
Copyright Business Wire 2013