The New York Times Company has said that it has recorded a loss of $24 million during the third quarter of the year mainly due to expenses related to the sale of the New England Media Group.

The loss of $24 million during the quarter included an $18.9 million loss from discontinued operations related to the New England Media Group and a $2.5 million income tax expense from the sale. The company also paid a $6.1 million pension withdrawal expense.

The company sold that the New England Media Group that includes Telegram & Gazette in Worcester and The Boston Globe in August to John W. Henry, the owner of the Boston Red Sox, in a deal valued at $70 million. The deal was completed this week.

Experts have said the quarter has been positive for the company as it has been able to sell its portfolio of tangential assets and also focus on more profitable core product, which is the New York Times, its website and the International New York Times, which was earlier known as The International Herald Tribune.