New York Times threatens to shut Boston Globe
BOSTON/NEW YORK, April 3 (Reuters) - The New York Times Co (NYT.N: Quote, Profile, Research) has threatened to shut The Boston Globe unless the newspaper’s unions quickly agree to $20 million in concessions, the Globe reported on Friday, quoting union leaders.
The union officials said executives from the Globe and the Times, which owns the Boston newspaper, made the demands on Thursday morning in a meeting with leaders of the newspaper’s 13 unions, the Globe reported.
If the Globe closed, it would join a growing list of big city dailies that have shut down this year, including EW Scripps Co's (SSP.N: [Quote]("http://uk.reuters.com/stocks/quote?symbol=SSP.N"), [Profile]("http://uk.reuters.com/stocks/companyProfile?symbol=SSP.N"), [Research]("http://uk.reuters.com/stocks/researchReports?symbol=SSP.N")) Rocky Mountain News and the print edition of Hearst Corp's Seattle Post-Intelligencer. Hearst's San Francisco Chronicle might join that list. Possible concessions at the Globe, the 14th-largest U.S. daily paper by weekday circulation, include pay cuts, the end of pension contributions by the company and the elimination of lifetime job guarantees for some veteran staff, the paper said, quoting Boston Newspaper Guild president Daniel Totten.
The guild is the Globe's biggest union, representing more than 700 editorial, advertising and business office employees, the report said. "Management told union leaders Thursday that the Globe will lose $85 million in 2009, unless serious cutbacks are made, according to a Globe employee briefed on the discussions," the Globe report said. That compares with an estimated $50 million loss last year, the newspaper quoted the employee as saying.
I wonder if this will alter their editorial stance on the card-check bill & other labor issues?