A tentative, eleventh hour agreement struck between The New York Times and the Boston Globe's labour unions has meant that Senator John Kerry's hometown newspaper has been rescued.
The New York Times has been locked in dispute since early April with labour unions at its lossmaking Boston Globe over $20m in cuts that included the elimination of lifetime job guarantees, but reached a truce last week.
The drop in newspaper advertising spending of an average of 50 per cent over the past three years has driven the Globe and newspapers across America to the brink of insolvency.
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