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Liverpool Owner Buys The Boston Globe
Aug 04, 2013 12:08 PM EST
Liverpool owner John Henry has added The Boston Globe to his prestigious portfolio.
Through his $70 million purchase, he acquires the New England Media Group. In buying the former faction of The New York Times Co., Henry takes control of the esteemed Boston newspaper, BostonGlobe.com, Boston.com, The Worcester Telegram & Gazette, Telegram.com, and GlobeDirect.
With the deal expected to close within 30 to 60 days, Henry has declined to comment on the future of The Globe, but released a statement, which was published by the Boston news outlet. "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," said Henry.
Mark Thompson, CEO and president of The New York Times Co. chimed in, saying, "We are very proud of the association we have had with The Boston Globe and the Worcester Telegram & Gazette 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," in a statement from the company.
Henry bought the paper at less that 10% of its 1993 value. The New York Times says it bought The Globe, two decades ago, for $1.1 billion.
The Boston Red Sox, Fenway Sports Management, New England Sports Network, and Roush Fenway Racing are all pieces of Henry's empire, in addition to the Premier League club.