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Deal to Save the Boston Globe?

Boston Globe reports:

WEYMOUTH – The Boston Globe’s largest union reached a tentative deal with the New York Times Co. shortly after 3 a.m. this morning, agreeing to a substantial pay cut, unpaid furloughs, and modifications to the lifetime job guarantee provisions that protect almost 200 employees in the Boston Newspaper Guild, according to sources familiar with the deal.

With the agreement, the guild, representing more than 600 editorial, advertising, and business office employees, became the last of the newspaper’s major unions to agree to concessions with the Times Co. The Globe’s parent company now has the $20 million in concessions that it demanded a month ago. And perhaps more importantly, the Times Co. succeeded in changing the job guarantee language, which was widely considered a roadblock to any potential sale of New England’s largest newspaper.

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