Boston Globe Now on Borrowed TimeS

Today is the deadline that the New York Times Co. originally set for the Boston Globe to come up with $20 million in cutbacks, or be shut down for good. So, what the hell's happening?

Delay is what's happening, probably. The union is asking for more time to, I don't know, think about whether it would like its members' paper to go out of business or not. [In their defense, there was a math fuckup to the tune of $4.5 million, so things now have to be recalculated]. And there's no sign of a huge announcement coming today, so far.

But as of yesterday afternoon, the newspaper's New York-based parent company had not begun the process of formally closing the Globe. Under the federal plant closing law, the Times Co. would have to provide 60 days' notice of a shutdown to the state and to employees.

The owner of the Red Sox says he's not buying the paper, so chances of an outside savior seem dim. It's hard to believe they'd drop the hammer today, although maybe they would do it Friday News Dump style. But probably not this Friday. Probably.

[BG, BH]