Boston Herald: Boston Globe Sale Delayed

October 20, 2013

World-Series-bound Red Sox owner John Henry is also newspaper-bound Boston Globe owner John Henry.

But not so fast, says crosstown rival Boston Herald.

Globe holds off closer

Sale with John Henry slides

The John Henry era will soon begin at The Boston Globe — though not as early as originally hoped — as the broadsheet prepares to end 121611globemh02.1two decades under the control of its out-of-town overlords.

A source close to the deal told the Herald yesterday that finalizing the purchase and executing the formal transfer of the newspaper from the Times to the Red Sox owner — which had been expected to happen sometime over the weekend — likely won’t take place until next week at the earliest.

Both the Globe and a rep for Henry declined comment yesterday, and a Times spokeswoman did not return calls or emails.

 

Big surprise there, yeah?

But no surprise here: Others say otherwise.

From NECN:

Screen Shot 2013-10-20 at 1.44.50 AMMoney Matters: Henry to close purchase of Boston Globe Saturday

According to the Boston Business Journal, Red Sox Owner John Henry will close on his purchase of the Boston Globe this Saturday. Henry is buying the New England Media Group, including the Globe, from The New York Times. The BBJ said he’ll also pay $65-million, down from the original $70-million bid.

 

Tiebreaker to come.

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Boston Globe on the Block (Take One in the Local Dailies)

February 21, 2013

The hardreading staff usually restricts itself to the print editions of the local dailies, but we just can’t wait till morning for the bakeoff over the New York Times Co. plan to sell the Boston Globe.

So . . . from their respective websites.

Boston Globe:

Times Co. hires firm to find buyer for The Boston Globe

The New York Times Co. said Wednesday that it plans to sell the New England Media Group, including The Boston Globe and its related online properties, and has hired an investment banker to find a buyer.

The Times Co. has hired Evercore Group, a New York-based firm that has been involved in other newspaper transactions, to help solicit bids from potential buyers.

“Our plan to sell the New England Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New York Times brand and its journalism,” said Mark Thompson, chief executive of the Times Co., in a statement.

 

And etc., including this: “The Times Co. last tried to sell the Globe in 2009, after first threatening to shut the newspaper down because it was losing money. After receiving wage cuts and other cost-saving concessions from Globe employees, the Times Co. decided not to sell at that time, saying it had received bids lower than it had hoped from two different business groups.”

Who – what – want to pony up more now?

(As best the hardremembering staff recalls, they were offering $35 million for what the Times Co. paid $1.2 billion to buy.)

Expanded Globe story here.

Cut to the Boston Herald:

Boston GlobeStaff braces again as Globe on block

The worst kept secret in town — that The Boston Globe is up for sale — 
became official yesterday when the paper’s New York owners publicly put it back on the block in a move that set off wild speculation about who will buy the beleaguered broadsheet and what’s in store for its staff.

The proposed sale — announced in a press release by its owner, The New York Times Co., that caught the Globe’s staff off guard — marks the second time the paper has been on the market since 2009. It also comes as key managers have jumped ship in recent months, among them editor Marty Baron and boston.com general manager Lisa DeSisto.

Industry experts predict it could be a tough sell for the Times, unless it takes on the tens of millions in Globe pension obligations.

 

Kevin Kamen, a newspaper broker from New York, estimates the Globe’s worth at $63 million, according to the Herald report.

Of course, Herald columnist Howie Carr values it significantly lower.

Clueless fops wonder why they’re tanking

Who in his right mind would ever buy The Boston Globe?

Maybe the physical plant of the “newspaper” on Morrissey Boulevard, but the actual product? Let me put it another way: When was the last time you bought an actual copy of The Boston Globe? Why would you, it only encourages them.

Has ever a publication fallen so far, so fast?

It’s the Carnival Triumph of the newspaper business. It’s the Patriots in the second half against the 
Ravens. It’s Tim Murray in his jammies, flooring his state Crown Vic as the stone wall looms up ahead.

 

It’s also Howie trying way too hard.

Then again, what else is new?


Herald Dogs Times On Jimmy Savile Row; Globe Just Dodges

October 26, 2012

The Boston Herald has been on the BBC/Jimmy Savile scandal like Brown on Williamson, and today’s edition extends the drumbeat.

Despite gaffe, Times’ Sulzberger gives Thompson vote of confidence

New York Times Co. Chairman Arthur Sulzberger Jr., who has been acting as interim CEO, offered a vote of confidence for embattled incoming CEO Mark Thompson today, but also made a gaffe on the company’s earnings call that linked him to the late BBC alleged sex predator Jimmy Savile.

“We’re delighted to welcome Mark Thompson,” said Sulzberger, reiterating the former BBC director general’s Nov. 12 start date at the Times.

Then, Sulzberger referred to the alleged pedophile and longtime BBC TV host as “Mark Savile” before correcting himself.

Sulzberger also sent a letter yesterday to Times staffers (who are embroiled in a contract dispute with Times management) that said this in part (via Romenesko.com):

At the New England Media Group, BostonGlobe.com recently marked its one-year anniversary and continues to make steady progress in growing paid digital subscriptions. The team has implemented a variety of initiatives to increase reader interest and engagement, and to strengthen subscription opportunities. And the August launch of Boston.com’s new live streaming radio station, RadioBDC, is just the latest of the site’s ongoing efforts to broaden its reach in the market.

I want to address a topic that has been on many people’s minds. You no doubt have read the recent reports of a controversy regarding the BBC’s decision in late 2011 to cancel a news story investigating allegations of sexual abuse and molestation by an on-air BBC talent, Jimmy Savile, who died last year. Mark has provided a detailed account of that matter, and I am satisfied that he played no role in the cancellation of the segment.

Meanwhile, the Times’ kissin’ cousin Boston Globe has played no role in examining its connection to the Mark Thompson rumpus.

Here’s what the hardsearching staff found on the Globe website around 1 am:

Try fewer keywords?

Try more coverage, Globeniks.