May 11, 2012, 5:54 PM EDT
The struggling New York Times Co. netted itself $63 million this week by selling its remaining shares of Fenway Sports Group, the company that owns the Red Sox, most of NESN and Liverpool in the English Premier League.
A Times spokesman was unwilling to comment on the buyer.
The New York Times also owns the Boston Globe, which, because of the relationship, has drawn some extra scrutiny for its coverage of the Red Sox through the years.
It’s a big profit for the company, which paid $75 million for its stake in the Fenway Sports Group in 2002. In all, the Times sold its entire batch of shares for $225 million. Still, the sale did nothing for Times stock, which dropped 1.2 percent to $6.43 on Friday.
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