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New York Times Co. completes sale of New England Media Group

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New York—The New York Times Co. Thursday closed the sale of its New England Media Group to an acquisition company owned by John W. Henry, the principal owner of Fenway Sports Group, for $70 million in cash. Times Co.plans to use the net proceeds for general corporate purposes, the company said in a statement. Principal properties that make up the New England Media Group include the Boston Globe, BostonGlobe.com, Boston.com, Worcester Telegram & Gazette, Telegram.com and GlobeDirect, the Globe's direct mail marketing company.
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