The New York Times Co. has threatened to shut down the Boston Globe and has set a May 1 deadline to do so should they not receive $20 million in concessions from Globe unions.
“We’ve talked to them about the May 1 deadline, and I think they know it’s the date we need for them to get back to us,” New York Times Co. chief executive Janet L. Robinson told the Globe.
Some rumors cite that Red Sox ownership has shown interest in pursuing the acquisition of the Boston Globe. However, the club released a statement Thursday morning.
“Neither John Henry, Tom Werner, nor any affiliates of the Boston Red Sox are involved in any sales discussions or negotiations with regard to the acquisition of the Boston Globe,” the statement read.
Henry became the majority owner of the Red Sox in 2002. Recent reports have been swirling that Henry, along with other Red Sox officials, have had discussions with The New York Times Co. — which owns the Globe — to potentially buy the newspaper as part of the deal to acquire the Times’ 17.75 percent in the Red Sox.
The Times Co., which paid $75 million for the stake in 2002, put its stake in New England Sports Ventures, which owns the Red Sox, Fenway Park and 80 percent of NESN. The Globe lost $50 million last year and could reportedly lose upwards of $85 million this year.