Could members of the Boston Newspaper Guild wind up as co-owners of the Boston Globe? A Media Nation reader sends along this link from the Financial Times. The story, posted last Thursday, doesn’t seem to have gotten a lot of pick-up.
But according to an anonymous source, one of the potential buyers, Boston Celtics co-owner Stephen Pagliuca, is reportedly willing to work out some sort of deal with the Guild that would result in employees owning a share of the paper. As the Financial Times notes:
Working with the Boston Newspaper Guild could help remove one of the biggest obstacles to a deal — negotiating a reduction in operating cost that could prove prohibitively expensive to return ownership to local control.
Such an arrangement would be similar to the one recently struck in Maine involving the Portland Press Herald and several smaller papers. Employees now own 15 percent of the company.
Boston Newspaper Guild president Dan Totten released an optimistic statement late this afternoon: “The Boston Newspaper Guild continues to have productive discussions with the New York Times Company and Globe management. We feel we are close to reaching an agreement that we can bring to Guild members for a vote.”
A vote has been scheduled for July 20.