John Henry Buys Boston Globe from New York Times
John Henry, owner of the Boston Red Sox and the Liverpool Football Club is now the new owner of The Boston Globe.
Former owners, The New York Times Company, put the Globe up for sale in February due to a decline in circulation. The company says the sale to Mr. Henry will allow them to focus on their flagship title. President and Chief Executive of The New York Times Company, Mark Thompson, said, “We are very proud of the association we have had with The Boston…and we’re delighted to have found a buyer in John Henry, who has strong local roots and a deep appreciation of the importance of these publications to the Greater Boston community.”
Being the most influential and largest newspaper in New England, Henry is a great fit for The Boston Globe. In a brief statement, he said, “This is a thriving, dynamic region that needs a strong, sustainable Boston Globe playing an integral role in the community’s long-term future.”
Henry wasn’t the only person who was interested in buying The Boston Globe. A group with members of the Taylor family, who once owned the Globe, and who also sold it to the Times in 1993, also showed interest.
American billionaire Henry purchased The Boston Globe with a $70 million all-cash bid, that also included BostonGlobe.com, Boston.com, Worcester Telegram & Gazette, Telegram.com, GlobeDirect, and a 49 percent interest in Metro Boston.
Not only does Henry own the Red Sox and the Liverpool Football Club, he also owns Fenway Sports Management, Roush Fenway Racing, and a majority stake in regional sports channel New England Sports Network (NESN) through his sports, media, and entertainment company Fenway Sports Group.
As an owner of these new media outlets, Henry will have to make sure they stay unbiased, even if it means something unseemly about one of his teams will be printed.