'Boston Globe,' largest union agree to concessions

A 3 am deal between The Boston Globe and its largest union has likely staved off the threat of parent...

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.

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