The Boston Globe No Longer for Sale

BOSTON—After much deliberation, The New York Times Co. announced on Wednesday that it wouldn’t sell The Boston Globe. Times Co. Chairman Arthur Sulzberger Jr. and CEO Janet Robinson informed Globe employees of the decision through a memo. The company said it is still weighing its options for other New England holdings, including the Telegram & Gazette in Worcester, MA.

The memo noted a series of initiatives the newspaper has embarked upon, namely a restructuring of labor contracts that will save an estimated $20 million per year, as well as consolidation of printing facilities and price increases for both newsstand and home delivery.