The New York Times is considering potential asset sales and is in discussions with lenders as it prepares for one of the “most challenging years” in its history.
Advertising revenue fell sharply at the paper in November, dragged down by weaker spending in the entertainment, property and automotive advertising categories.
As the financial woes of the NYT deepen, the newspaper is considering the possibility of selling off some of its major assets, including but not limited to The Boston Globe and its 17% interest in the Boston Red Sox.
The Financial Times has the complete story.
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