Citing some progress in negotiations, the Boston Globe has extended its deadline for the unions to make $20 million in concessions in order to save the paper. The statement issued at 1 a.m. Saturday morning—an hour after the original deadline expired—said simply: “Because there has been progress on reaching needed cost savings, The Boston Globe will extend the deadline for reaching complete agreements with its unions until Midnight Sunday May 3.”

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At the beginning of April, The New York Times Company (NYSE: NYT) threatened to close its money-losing New England flagship unless the unions made major concessions by May 1, including $10 million from the Boston Newspaper Guild alone. NYTCo said the paper lost $50 million in 2008 and is on a path to lose $85 million this year. The unions were given lists of possible areas to cut; as the negotiations went to the wire, the Guild complained that the company made a $4 million-plus accounting error in the list it was given and asked for more time.

—Late last month, the New York Times Guild unit agreed to a 5 percent wage cut for the rest of the year.

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