How come all of FOX's critics don'tsay the same thing?
New York Times Co. sells part of Red Sox stake
July 1, 2011 5:58 PM
By Beth Healy, Globe Staff
The Red Sox have been struggling lately, but the team is paying off for The New York Times Co., which today sold a portion of its Sox holdings for a sizeable profit.
The Times Co. reported that it sold more than half its holdings in the Fenway Sports Group, which includes the Sox, for $117 million, recouping more than what the media company spent on its entire original investment.
JULY 2, 2011
Times Co. Sells Part of Stake in Red Sox
By RUSSELL ADAMS
New York Times Co. sold more than half of its 17% stake in the holding company of the Boston Red Sox to three separate buyers for $117 million in cash.
The sale, disclosed in a regulatory filing on Friday, represents 390 of the 700 shares that Times Co. held in Fenway Sports Group, which owns the Red Sox and most of the cable network that airs its games.