The New York Times is expected to announce a newsstand price increase for its flagship newspaper early next week as it races to shore up liquidity amid industry-wide falls in advertising revenues and circulation.
The announcement comes as the New York Times is pushing for cost cuts from the struggling Boston Globe, which the New York Times purchased in 1993 for $1.1bn.
The New York Times set the unions at the Globe a deadline, due to expire last night, to start talks about $20 million in cuts. It has threatened to closes the Globe, which is expected to lose $85 million this year, if it were to fail to implement the cost cuts.
Wholesalers expect the New York Times to increase its price from $1.50 to $2.00 for Monday to Saturday editions and from $5 to $6 on Sundays. A spokeswoman declined to comment.
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