Originally published: April 24, 2009
Last updated: April 24, 2009 - 3:56pm
The New York Times Co intends to stick to its May 1 deadline to gain $20 million in concessions from unions at the Boston Globe. Without concessions, the Times Co. has threatened to shutter the money-losing newspaper. The Globe is expected to lose $85 million this year. Globe Publisher P. Steven Ainsley's plan to close the gap through a combination of cost reductions and new revenues. He expects to gain new advertising revenues from the expansion of Boston.com's hyperlocal sites, known as Your Towns and executives see the opportunity to increase revenues from consumers and advertisers by "launching new digital services and consumer-pay programs that do not eat into advertising revenues."
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