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New York Times Co.

(NYT) - Get Free Report

agreed to take a minority equity stake in

and said it is discussing opportunities for strategic alliances with the online provider of financial and investment news.

Times Co. said it would invest $15 million in cash and services for the stake, the size of which wasn't disclosed. The company, which publishes

The New York Times


The Boston Globe

and holds other media properties, said its vice chairman, Michael Golden, has been nominated to join

board of directors.

Times Co. said


is "a good strategic fit with our own customer base, which needs timely and quality information to make informed investment decisions."