Boston Globe Axing Hundreds, Raising Price
Troubled New York Times Company (NYT) property Boston Globe will reportedly fire "hundreds" of staffers and raise the price of its print paper to 75 cents. The Globe has been in trouble for a while, and the situation appears to be getting worse. The move also suggests that the New York Times Company is having another challenging quarter after seeing consumer-related weakness in Q4.
The Globe's subscription base is already shrinking 7% year-over-year, and the price increase will likely accelerate the attrition. Report from Boston Metro.
The Globe's subscription base is already shrinking 7% year-over-year, and the price increase will likely accelerate the attrition. Report from Boston Metro.
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