I expect I'll see even more of the Red Sox on the front page.
"Friday marked another deadline in the bidding process for The Boston Globe and its related companies, with the roster of groups entering “best and final” offers changing shape over the course of the past week. As many as six groups were looking to buy the Globe and other New England businesses owned by the New York Times Co. by week’s end, with one notable bidder stepping out of the mix. Red Sox owner John Henry and his New England Sports Network have decided not to continue in the process, according to people who do business with him and others familiar with his plans."
He must be a switch-hitter.
Related: Who Reads the Boston Globe?
I'm sorry, readers, but that is just the plain truth!
Also see: Slow Saturday Special: Boston Globe Going on the Block
"Red Sox owner John Henry in deal to purchase The Boston Globe" by Beth Healy | Globe Staff, August 03, 2013
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.
Wow. The NYT bought the Globe for $1.2 BILLION -- yeah, with a "B" -- and is unloading it for $70 MILLION -- yeah, that's with an "M." Not the kind of return you are looking for on an investment.
“The Boston Globe’s award-winning journalism as well as its rich history and tradition of excellence have established it as one of the most well respected media companies in the country,” Henry said in a statement. He cited the “essential role that its journalists and employees play in Boston, throughout New England, and beyond.”
Yeah, those Globe reporters being interviewed on NESN? Working for the same guy!
Henry, 63, made his fortune in investment funds and has built a sports empire that includes the Red Sox and New England Sports Network, as well as the Liverpool Soccer Club and Roush Fenway Racing, a NASCAR team.
When are the carbon culti$ts going to go after wasteful NASCAR?
“We are excited about the prospect of working with John Henry and committed to giving Boston and New England high-quality news, information, and entertainment for years to come,” said Christopher M. Mayer, Globe publisher and president of New England Media Group.
A Quincy, Ill., native and a son of soybean farmers, Henry turned his knowledge of agricultural crops into a complex commodities-investment business, managing $2.5 billion at its height. Since Henry bought the Red Sox with partners Tom Werner and Larry Lucchino in 2002, the team has won two World Series championships following an 86-year drought.
Henry, who lives in Brookline, said he would disclose more details about his plans for the company in coming days....
Globe publisher Christopher Mayer, in a note to the staff, thanked the Times Co. for its stewardship and said he looked forward to working with Henry....
He thanked the Times after they screwed all the workers and made the Globe a shell of its former self?
The deal brings under one owner two Boston institutions that have been connected before. The Times Co. owned a minority 17.5 percent stake in the Red Sox from 2002 to 2012, reaping a $150 million profit on the investment.
That deal worked out a bit better for them.
During that period, the Globe continued its normal coverage of the team and routinely disclosed in news stories that the Times Co. was a partial owner of the Red Sox....
That's what made the rhetoric behind the rivalry hollow and empty. It was and is all $elf-$erving distraction per the protocols.
Even so, the deal is sure to spark debate in journalism circles and among Globe readers about whether the Globe’s coverage of the Red Sox, which regularly includes critical commentary, will be affected.
“We have no plans whatsoever to change our Red Sox coverage specifically, or our sports coverage in general, nor will we be asked,’’ Globe editor Brian McGrory said Saturday. “The Globe’s sports reporting and commentary is the gold standard in the industry.”
They care more about the sports departments than they do about the news -- and thus their self-delusion and self-implosion as an industry.
The Times Co. is selling the Globe for far less than the $1.1 billion it paid for the paper in 1993, when the business was highly profitable and the Globe fetched a record price.
Yeah, not only is the sale price today a lot less in numerical terms, it is even worse in monetary terms because $70 million today is not worth the $70 million of twenty years ago.
The Times Co., like other business owners, withdrew a large stream of cash from the Globe during its ownership — a sum at least equal to the purchase price, according to several former high-ranking Globe executives.
No.
NO.
NO!
NOOO!
NOOOOOOOOOOO!!!
The GREAT NYT was behaving JUST LIKE the LOOTING BANKS, CORPORATIONS, and GOVERNMENT?????
All the while telling rank-and-file Globe workers they had to give back benefits, kick in more for pensions and health care, and threatening them with closure!
Yup, the Globe was nothing put a big looting operation by the New York Times.
Once again, New York beats Boston!
Henry would be taking ownership of the Globe during a period of dramatic changes in the newspaper industry, as print advertising revenues at papers nationwide continue to slide and readers increasingly want to consume news online, where revenues are improving but are still much lower than traditional newspaper advertising.
Yeah, they are DYING because all the agenda-pu$hing deceptions, diversions, distractions, obfuscations, omissions, and just flat-out lies coupled with elitist insults and self-internalized Jewish supremacism are no longer pleasing to news consumers who care!
Oh, and the SELF-DELUSION behind it all! Papers are burning all around them and they can't smell the smoke!
Governor Deval Patrick in a statement called the Globe “an American institution, and a vital source of information here in Massachusetts and across New England.”
That's why I'm doing this blog; my mission is to show you the shit I'm being fed by my regional flagshit.
******************************
Many newspaper transactions over the past decade have been tumultuous, as new owners took on massive debt at the same time the business was struggling. Major news outlets such as the Chicago Tribune, the Los Angeles Times, the Philadelphia Inquirer, and the Minneapolis Star Tribune have ended up in bankruptcy, amid deep cost cuts and layoffs.
At least you Globe reporters and staff know where you're going.
In 2009, the Times Co. tried to sell the Globe, but it took the paper off the market because it did not fetch the price it was seeking.
And now they got even less!
It received wage concessions from the newspapers’ union members and management after threatening to shutter the paper because the company was losing money.
But they kept the place open, and everyone rejoiced.
The Globe’s financial health is stronger now, but the company is still working to turn around declining advertising revenue, a problem that persists industrywide....
--more--"
He's got just enough to buy the Globe.
Related: BRA Serves Sox Meatball
Is that what the smell is?
Also see: Police probe apparent suicide on John Henry’s yacht
Rumor is he had an affair with the wife and enraged John Henry.
