New York - The New York Times Company (NYSE: NYT) announced on Wednesday that it has retained Goldman Sachs as financial advisor to explore the possible sale of its stake in New England Sports Ventures, which includes the Boston Red Sox, Fenway Park and 80% of New England Sports Network.

The Times Company acquired its 17.75% interest in NESV back in February 2002.

In the face of an advertising slump caused by the economic downturn, the owner of The New York Times, Boston Globe and 17 other newspapers has recently been seeking to raise money in advance of the expiration of a $400 million credit line.

Earlier this month, the company received a $250 million investment from Mexican billionaire Carlos Slim Helu, and began exploring the sale or lease of part of its Manhattan headquarters.

Related Links:
http://www.businesswire.com/news/home/20090128005610/en

http://www.nytco.com