Agreement reported in bid to save newspaper

The Boston Globe's biggest union forged a tentative deal early today with owner New York Times Co, which had threatened to shut the money-losing daily newspaper, the Globe said.

The Boston Newspaper Guild had been the only union not to reach a cost-cutting agreement with the paper's management. A tentative deal was reached shortly after 3 am Boston time, the Globe said on its website.

"We have completed negotiations with the Guild," the Globe's Robert Powers said.