On The Call: NY Times Co. CEO still swinging in ‘complicated’ effort to sell Red Sox stake

On The Call: New York Times Co. CEO Janet Robinson

NEW YORK — The New York Times Co. wanted to sell its holdings in the Boston Red Sox last year but struck out on finding a buyer.

Janet Robinson, the newspaper publisher’s CEO, assured analysts Wednesday that the company would still find a taker for its 17.8 percent stake in a joint venture that owns the Red Sox, the baseball team’s stadium, Fenway Park, and the cable TV network that beams the games throughout New England. Unlike last year, though, she didn’t set a timetable for completing the deal.

Analysts have estimated the company might be able to get anywhere from $150 million to $200 million for its holdings, if it can find a buyer that’s approved by Major League Baseball.

QUESTION: Are you still optimistic that you can actually reach a deal?

ANSWER: Yes we are. It is more complicated. As you can well imagine, there is a lot of due diligence with prospective buyers that needs to be done. It is a multifaceted buy because it’s not just the Red Sox ballclub, it’s also Fenway Park and real estate holdings and NESN (New England Sports Network). And certainly Major League Baseball plays a part in this as well. So it’s quite complex, but we are certainly moving ahead in regards to selling this part of our portfolio.