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Boston Newspaper For Sale _ But At What Price?

Stock quotes in this article: NYT  

BOSTON (AP) — The Boston Globe's largest union postponed a meeting with the National Labor Relations Board Tuesday so members could continue talks with management over $10 million in annual wage and benefit concessions the Globe's owner says it needs to keep the newspaper going.

Talks were scheduled to resume at 3 p.m. Tuesday after 13 hours of negotiations Monday. Globe spokesman Robert Powers called Monday's talks "substantive" but said an agreement had not yet been reached.

The New York Times Co. — the owner of the Globe — in April threatened to shut down the 137-year-old newspaper if its unions did not come up with $20 million in concessions — half of that from the Guild. ...

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