NY Times hires Goldman Sachs to sell Red Sox

(AP): "The New York Times Co. says it has retained investment firm Goldman Sachs to help explore a sale of its stake in the company that owns the Boston Red Sox. ...

• The company holds a 17.8 percent stake in New England Sports Ventures, which owns the Boston baseball team as well as Fenway Park, a portion of a cable sports network and other properties....

The announcement came Wednesday as the Times Co. reported its earnings plunged 48 percent in the fourth quarter because of lower advertising revenue in a weak economy." via Poynter.org/Romenesko

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