It could have been predicted, though it was looking pretty shaky over the past few days. But barring any last-minute snags, it looks like the New York Times Co. will have its $20 million in union concessions from Boston Globe employees by the (new) deadline of midnight on Sunday (Globe coverage here; Boston Herald coverage here).
Which raises a serious question. Given that the Times Co. will likely be able to declare victory, what will be its next step? After all, the Globe is reportedly on track to lose $85 million this year — or $65 million, presumably, once the concessions are in place.
There’s been a lot of speculation by media observers, including me, that the month-long standoff was a prelude to some dramatic action, including throwing the Globe into bankrupty, letting a judge restructure the paper and then selling it to a local owner. But I don’t see how that can happen if the unions give management what it wants.
Can the Times Co. afford simply to wait out the recession? I hope so. I guess we’ll find out soon enough.