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New York Times sells portion of stake in Sox

New York Times sells portion of stake in Sox

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New York Times sells portion of stake in Sox
BOSTON -- The New York Times Co. announced on Thursday that it has sold 100 more units of its holdings in Fenway Sports Group, which owns the Red Sox, for $30 million.

The sale is pending Major League Baseball's approval. No buyer was named.

The Times Co., which owns The Boston Globe as well as the eponymous New York newspaper, bought 750 units in Fenway Sports Group for $75 million in 2002, for a 17.75 percent stake in the sports investment company.

More than half of the Times Co.'s holdings in Fenway Sports Group were sold in July.

Evan Drellich is a reporter for MLB.com. Follow him on Twitter @EvanDrellich. This story was not subject to the approval of Major League Baseball or its clubs.

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