Times Selling the Sox

New York Times might dump stake in the Red Sox

Boston and New York will forever be connected in the baseball world, but the latest chapter has nothing to do with the on-field rivalry between the Yankees and Red Sox. 

The New York Times is exploring a sale of its stake in the company that owns the Red Sox.

The Times is reporting a 48 percent drop in its 4th quarter earnings because of lower advertising revenue in the weak economy.  That's forcing them to consider getting rid of their 17.8 perccent stake in the New England Sports Ventures, which owns the Sox.  They've retained investment firm Goldman Sachs to help them explore the sale.

New England Sports Ventures owns the Red Sox, as well as Fenway Park and NESN, the cable sports network.

Copyright AP - Associated Press
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