It looks as if the Boston Globe will not be sold after all.
Fox 25 (Boston) reported the Times Company “spurned” an offer from local investors to buy the broadsheet, which is valued at nearly $600 million.
Times Co. Chief Executive Janet Robinson wrote in a letter dated Nov. 17 that the Globe remains an important asset and the company was not interested in pursuing the sale, two executives who have seen the letter told a Globe reporter.
The Times Company paid $1.1 billion in 1993 to obtain The Globe.