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:
- The Boston Globe
- Worcester Telegram & Gazette
- 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