Sighs of relief heard as the Globe saga subsides

Paul S. Grogan, president of The Boston Foundation, New England’s biggest public charity, called the decision “unqualified good news for the city of Boston and the whole region.’’

“I’m very excited about it,’’ Grogan said. “The Globe is an enormously significant asset to this community, and it was unthinkable for a lot of us to imagine it disappearing or getting so weak that it couldn’t perform its civic function.’’

Grogan noted that the paper had uncovered political scandals and delved into critical aspects of education reform in the past year.

“The Globe has frankly covered itself with glory under these conditions,’’ Grogan said of a period in which the paper was in the awkward position of writing about itself and its fate. He said the ordeal, and the Globe’s continued dedication to news coverage, had “reminded everybody how much it matters to this community.’’

The Globe is New England’s largest newspaper and the 14th biggest in the United States, but like many papers nationwide, it has suffered a decline in revenue as the economy faltered and more readers turn to the Internet for news.

In April, The New York Times Co. threatened to close the Globe unless employee unions agreed to $20 million in concessions. After winning concessions, the Times Co. solicited bids to sell the paper and its website, Boston.com, and received three. News of a potential sale had raised concerns that a new owner would make more staff cuts, affecting the newspaper’s ability to cover issues in depth.

“Newspapers have been through hell and back in the last couple of years,’’ said Patrick Moscaritolo, chief executive at the Greater Boston Convention and Visitors Bureau. “A sale would probably only mean a more hellish journey for the paper.’’

Moscaritolo, a Boston native, called the Globe “a big part of growing up here and a big part of life.’’

At South Station yesterday, Stephen Vey of Hanson said he was glad the Globe wasn’t sold to a company without publishing experience.

“I’m glad it’s a newspaper [company] owning a newspaper,’’ said Vey, 50, as he bought a newsstand copy.

Mike Craine, 46, radiology engineer at Children’s Hospital, said it does not matter who owns the Globe, as long as the city continues to have two daily papers. “I think this is a city big enough for two newspapers.’’

Members of the Boston Newspaper Guild, the union that represents editorial, advertising, and business office workers, were especially pleased that the paper will not be sold to one of the bidders, Platinum Equity, a California private equity firm that made major staff cuts after buying the San Diego Union-Tribune.

“These days, when you find out something isn’t being taken away, that counts as good news,’’ said David Filipov, a Globe reporter. “What’s not being taken away is our stability, as uncertain as that stability may be.’’

Another reporter, Marcella Bombardieri, said the Times Co. decision means “things can quiet down and we can go back to doing our job.’’

She said she also hoped the Times Co. would contribute more to employee health plans, which were cut after the union agreed to $10 million in contract concessions to stabilize the Globe’s finances. Employees now face much higher premiums and reduced coverage.

“I hope they remember how much they extracted from employees,’’ Bombardieri said.

Kevin Shaughnessy, who has worked for 15 years in the engraving department, which prepares plates used in printing, was more philosophical. “I don’t care who my boss is,’’ he said. “Just do your job.’’

Megan Woolhouse can be reached at mwoolhouse@globe.com. Globe correspondent Sean Teehan contributed to this report.