New York Times Co. sells last of its stake in Red Sox
Had bought share of the team in ’02
The New York Times Co. said it has sold its remaining share of Fenway Sports Group, which includes the Boston Red Sox, for $63 million. The sale, to undisclosed buyers believed to be current minority owners of the team, ends the Times Co.’s ownership stake in the Red Sox. Over 10 years, the company tripled its investment, having originally purchased a 17.5 percent stake in the team for $75 million in 2002. In recent years it has sold off portions of that share, for a total of $225 million.