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New York Times Sells Half Its Stake In Red Sox

Just before the Boston Red Sox were purchased by John Henry and the Fenway Sports Group in 2003, the New York Times bought a small stake - 700 shares, to be exact - in the team.

Recently, the beleaguered broadsheet - looking to generate funds in any manner possible - sold 390 of those shares, according to a report from ESPN Boston.

The sale generated a pre-tax return of $64 million, which likely still won't keep online readers from having to pay $35 annually for unlimited access to the Times' internet content. The paper said that it would continue to work to find a buyer for the remaining 310 shares of the Fenway Sports Group, formerly known as New England Sports Ventures.

The Times had been looking for a buyer of the shares for three years now. They originally bought the 17.8 percent stake for $75 million.

The report didn't disclose who bought the shares.