NYT Co. Wants to Peddle Stake in Red Sox

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By: The New York Times's advertising revenue decline in November, almost 21% from the same month last year, is reportedly prompting the Times to come up with ways to shore up its newspaper assets. The Times flagship paper says the company is actively seeking buyers for its 17.5% stake in the holding company of the Boston Red Sox.

The company, New England Sports Ventures, owns the team, Fenway Park and a majority interest in the New England Sports Network.

The Wall Street Journal says Barclays Capital estimates the stake to be worth about $166 million.

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