A 3 am
deal between
The Boston Globe and its largest union has likely staved off the threat of parent The New York Times Co. closing the newspaper, the largest in New England, for the near future.
The Times Co. said in a statement that it will not release details of the agreement until the leadership of the Boston Newspaper Guild speaks with its members on May 7. The guild
was the last of the
Globe unions to reach agreement with the Times Co. after it
demanded $20 million a year in wage and benefit concessions last month.
Meanwhile, the Times Co. also
revealed that it is raising newsstand prices for the flagship
New York Times for the second time in a year. Effective June 1, weekday and Saturday editions will increase from $1.50 to $2, while the national edition of the Sunday newspaper will jump from $5 to $6.
Unionized employees at the
Times also
ratified a 5% pay cut on May 4.