The Boston Globe inches ever closer to becoming the latest newspaper to shut down.
Yesterday, Janet Robinson, the chief executive of the New York Times Co., <a href=reiterated that the paper’s union has one week to agree to $20 million in concessions or follow Hearst Corporation‘s Seattle Post-Intelligencer into the great newspaper bin in the sky.
“We’ve talked to them about the May 1 deadline and I think they know it’s the date we need for them to get back to us,” Robinson told Globe reporters.
The Beantown paper is on track to lose $85 million this year. Considering its parent company is cutting costs everywhere it can, it makes sense that the Globe is in dire straights indeed.