Times Co. Sells Part of Stake in Red Sox

By: Russell Adams | The Wall Street Journal

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.

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