Red Sox owner John Henry in deal to purchase The Boston Globe

[alp227]

Source: Boston Globe

Boston Red Sox principal owner John Henry entered into an agreement early Saturday to buy The Boston Globe, a deal that will put the 141-year-old newspaper, its websites, and affiliated companies into the hands of a personally shy businessman with a history of bold bets.

The impending purchase for $70 million in cash marks Henry’s first foray into the financially unsettled world of the news media.

“The Boston Globe’s award-winning journalism as well as its rich history and tradition of excellence have established it as one of the most well respected media companies in the country,” Henry said in a statement. He cited the “essential role that its journalists and employees play in Boston, throughout New England, and beyond.”

Henry, 63, made his fortune in investment funds and has built a sports empire that includes the Red Sox and New England Sports Network, as well as the Liverpool Soccer Club and Roush Fenway Racing, a NASCAR team.

Read more: http://www.bostonglobe.com/business/2013/08/03/red-sox-owner-deal-purchase-globe-offer-bests-crowded-field-bidders/HQ55IBfPd8Am9sNL7PteBM/story.html

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Henry has donated nearly $1 million to Democratic campaigns from 1996 to 2004.

Wikipedia: John W. Henry

[Fearless]

1. Lightyears better than News Corp.

Good for him! I hope he can find a way to save the paper and make it profitable.

[edbermac]

2. Good, and he can tell Murdoch's Boston Herald to suck it.

[MADem]

3. In the name of baseball and all that's holy, PLEASE let him buy it and run it well. PLEASE.

The Globe used to be the best goddamned paper in the world. I liked it so much that if anyone sent me a paper when I was off in the middle of nowhere overseas, it didn't matter if it was two weeks old, I'd read the whole thing cover to cover. Then I'd save it and read it again later.

When the NYT bought it, it turned into a pile of mushy crap.

I used to love something called the GLOBE SPOTLIGHT TEAM. They were like a printed version of Sixty Minutes, with the whole Mike Wallace vibe. I hope he brings that back.