Post Chronicle – The New York Times Co is trying to sell its stake in the holding company of the Boston Red Sox baseball team, The Wall Street Journal reported on Wednesday, citing people familiar with the discussions.
The sale, which could give the Times desperately needed cash as newspaper advertising revenue falls and its debt payments loom, could involve its 17.5 percent stake in New England Sports Ventures and possibly the struggling Boston Globe daily newspaper, the Journal reported.
New England Sports Ventures owns the Red Sox, the Fenway Park baseball field where the team plays, and most of the cable network that shows their games.
