06/03/2009 05:12 am ET Updated May 25, 2011

Boston Globe Still Alive As Talks Continue Past Midnight Deadline

The Boston Globe lives... for now.

The New York Times and its biggest union at the Boston Globe are still deadlocked and continuing to negotiate past a Sunday midnight deadline.

The Boston Newspaper Guild, which represents about 600 newsroom employees at the paper, claims that it exceeded the $10 million in cuts demanded of it by its parent company.

Just past midnight, the guild emailed the following statement to the Huffington Post:

"The Boston Newspaper Guild tonight presented the New York Times Company and Globe management with a proposal that exceeds the $10 million in cuts demanded. This proposal was the product of arduous deliberations. These tremendous sacrifices, across virtually all categories of compensation and benefits, are more than adequate to continue The Boston Globe's mission of quality journalism.

In response to this proposal, the Company tonight provided us with a copy of a notice drafted under the Workers Adjust and Retraining Notification Act. The WARN act requires sixty days advance notice before the closure of a business. The Company has said it is prepared to file this notice in the event negotiations are not successful.

This tactic, while expected, is representative of the bullying manner in which the Times Company has conducted itself during these negotiations. Despite the Company's hostile tactics, we continue to negotiate in good faith and work diligently toward an acceptable outcome."

The paper could be shut down if both sides fail to reach an agreement.

Early Monday morning, a spokeswoman for the Times said talks are continuing.

The New York Times said it was prepared to file the 60-day notice required by law to shut down the paper. From the AP:

The Globe's owner, The New York Times Co., said it had given the Globe's biggest union a copy of a notice it was prepared to file Monday if it was unable to agree on the concessions by midnight Sunday. The 60-day shutdown notice is required under federal law.

The newspaper's largest union, the Boston Newspaper Guild, called the move a "bullying" tactic by the Times Co., which last month threatened to close the Globe unless its unions agreed to $20 million in cuts, half from the Newspaper Guild.

Early Monday, it was announced that two smaller unions had reached a tentative deal with the company, but no deal had yet been made with the BNG.

According to Bloomberg News:

In the latest period, the Globe dropped 14 percent in average weekday circulation, compared with 7.1 percent industrywide.

Times Co. said April 23 that the newspaper bought in 1993 for about $1 billion is on course to lose $85 million this year.