As deadline looms, will NY Times shut The Boston Globe? | WHAT REALLY HAPPENED

As deadline looms, will NY Times shut The Boston Globe?

The New York Times Co, which bought the Globe for $1.1 billion in 1993, threatened at the start of April to shut the money-losing, award-winning broadsheet unless the paper's 13 unions agree by Friday to $20 million in concessions.

As the deadline approaches, the future of one of America's most acclaimed regional newspapers looks unclear, illustrating deepening problems for an industry that has few answers for an accelerating, long-term shift of advertising to the Internet.

Names of potential buyers have surfaced only to disappear nearly as quickly, some worrying about finding a profitable financial model for a newspaper that won 20 Pulitzer Prizes and dominates news coverage in the six-state New England region but has faced steep drops in circulation.

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