New York Times Scraps Plan to Sell Boston Globe

Would have been a dismal exit from Boston for the Times.

The New York Times Co said it has given up its plan to sell the Boston Globe and related businesses after drastic cuts it imposed on the daily newspaper earlier this year improved its financial position.

The announcement caps a painful odyssey for the 137-year-old Boston Globe that began earlier this year when the Times threatened to close the paper if it could not get its unions to agree to deep cost cuts. Selling the Globe would have been a dismal exit from Boston for the Times.

Read more at Reuters.