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The Boston Globe will stay alive, at least through the weekend, after its management and a key union made progress in negotiations over cost cuts, a spokesman for the paper said early Saturday morning.
The Globe's parent company, the New York Times, extended a deadline to get concessions from the Boston Newspaper Guild to midnight on Monday (Sunday night).
"Because there has been progress on reaching needed cost savings, The Boston Globe will extend the deadline for reaching complete agreements with its unions," spokesman Robert Powers said in a statement.
The Times [ NYT 7.77 
+0.23 (+3.05%) ] had set Friday as a deadline for concessions it said were crucial to keeping the 137-year-old paper alive. The Times has threatened to shut the paper, which it said could lose $85 million this year.
The Boston Newspaper Guild met the Globe's management in Weymouth, Mass., southeast of Boston, on Friday night to discuss cost cuts at the paper.
"We have given the New York Times Company and Globe management proposals for deep cuts to our members' pay and benefits that we believe will save The Boston Globe," Daniel Totten, the guild's president, said in a statement.
The guild did not provide specifics of the proposals.
People in the Boston region as well as many more throughout the United States have been closely following the twists and turns in the Globe's saga.
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