N.Y. Times looks to sell Boston Globe

BOSTON — The New York Times Co. appears interested in getting rid of the Boston Globe, hiring investment bank Goldman Sachs to manage a potential sale of a newspaper that has plummeted in value since its purchase in 1993, the Globe said Wednesday.

The Globe, citing two potential buyers it did not name, said Goldman Sachs would request bids for the 137-year-old newspaper in the next couple of weeks. The Times Co. previously announced it had hired the investment bank to sell its 17.5 percent stake in the Boston Red Sox and related sports properties.

A Globe spokesman declined to comment Wednesday, and a Times Co. spokeswoman said the company does not comment "on rumors concerning potential acquisitions or divestitures."

The Times Co. recently renegotiated contracts with most of the Globe unions.