Thursday, April 1, 2010

Urgent: In sale, NYT Co. reduces Red Sox stake

The just-announced deal with Henry McCance, chairman emeritus of Silicon Valley venture capital firm Greylock Partners, doesn't disclose terms. In a statement, NYT Co. said it would record an undisclosed pre-tax gain in the second quarter. The deal still leaves the Times with a nearly 17% position in the pro team, plus affiliated businesses in New England Sports Ventures.

Related: The New York Times' story on its Media Decoder blog

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