NYT chooses John Henry as new owner of Boston Globe

Youkilis vs Wild

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I don't know if the Globe's Sox coverage is going to suffer as a result of this -- I'd predict it will -- but I think this is a very good thing for the publication at large. Here's hoping he's ready to make similar investments in the Globe as he has with the Sox.
 
EDIT: But then again, the Globe's Sox coverage is currently pretty abysmal. So...
 

Youkilis vs Wild

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the1andonly3003 said:
each article will now start with:
 
John Henry, principal owner of the Boston Red Sox, owns 100% of the Boston Globe.
 
I'm torn in whether this should be indicative of a possible Sox sale or that he's going to stick around for a long, long time. 
 

Brianish

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Youkilis vs Wild said:
I don't know if the Globe's Sox coverage is going to suffer as a result of this -- I'd predict it will -- 
 
I would be genuinely impressed. 
 

Jordu

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I'll wait for confirmation from NYT Co. Gammons no longer reliable reporter and has new web site to flog.

If true, Henry would be foolish to turn Globe sports into PR operation for Red Sox (and Bruins, NESN's other money-maker). He'd be sabotaging his own investment, pushing subscribers away.

Highest traffic months in the history of boston.com: 1) October 2004; 2) October 2007; 3) August 2009 (death of Ted Kennedy).
 

Corsi

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Jordu said:
I'll wait for confirmation from NYT Co. Gammons no longer reliable reporter and has new web site to flog.
 
Not this this is any sort of official announcement, but I used to work for the Globe, so I follow their cafeteria's twitter feed and they're kind of confirming that he's going to be purchasing it.
 
Globe cafeteria offerings limited to Italian sausage, pretzels and $9 beers. #whenjohnhenrybuystheglobe
 
Sadly, chicken finger Friday at the Globe cafe will cease to exist #WhenJohnHenryBuysTheGlobe
 
 
https://twitter.com/GlobeLunch
 

Byrdbrain

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I find it fascinating the the Globe cafeteria has a twitter feed.
I haven't worked anywhere with a cafeteria in 20 years though so it is probably pretty common and it makes total sense.
 

SoxScout

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BOSTON (AP) — Businessman John Henry, the principal owner of the Boston Red Sox, has entered into an agreement to buy The Boston Globe for $70 million, a massive drop from its record $1.1 billion price two decades ago.
 
The impending purchase from The New York Times Co. marks Henry's "first foray into the financially unsettled world of the news media," the Globe said early Saturday. The deal will give Henry the 141-year-old newspaper, its websites and affiliated companies, it said.
 
The Times announced in February it was putting the Globe and related assets up for sale four years after calling off a previous attempt to sell it. The company's CEO said at the time selling the Globe would help the company focus attention on The New York Times brand.
 
Times spokeswoman Eileen Murphy confirmed the sale of the Globe and other media properties to Henry. The Times said the sale includes BostonGlobe.com, Boston.com, The Worcester Telegram & Gazette, Telegram.com, the direct mail marketing company Globe Direct and the company's 49 percent interest in Metro Boston, a free daily newspaper for commuters.
http://bigstory.ap.org/article/red-sox-owner-henry-enters-deal-boston-globe
 

IpswichSox

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I'm not sure who was prescient enough in 1993 to have predicted the fall of traditional newspapers and the staggering challenges the Internet would represent to newspapers' traditional business models, but the NYT took a phenomenal bath on that investment.
 

Clears Cleaver

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The times bought it for $1.1B and sold it for $70M, but had sold pieces in the interim. I do not think it was able to net any income during that period however. They had to lose over $500M including any NOls that might have helped defer any taxes for the parent.
 
I would think that a newspaper franchise is more of a marketing piece for Henry than anything else. No one pays for its content. maybe he can turn it into a huffington post (which sold for 4x what the Globe sold for) or Grantland for Boston. somehow. that means eliminating the print version and eliminating about 80% of the staff I would think.
 

singaporesoxfan

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Actually I would kind of like the Globe to be a bit more house organ-y. Or just get rid of Shaughnessy and Cafardo. I'd rather have NESN's tone than reflexive criticism and general misanthropy.
 

InstantKarmma

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Toe Nash said:
 
axx said:
 
Maybe Henry has a plan to get around that awful union contract somehow. I can't imagine anyone would buy the Globe without it, even at firesale prices.
 
The lifetime job guarantees went away a while ago.
 
 
IpswichSox said:
I'm not sure who was prescient enough in 1993 to have predicted the fall of traditional newspapers and the staggering challenges the Internet would represent to newspapers' traditional business models, but the NYT took a phenomenal bath on that investment.
 
Nobody was prescient about the fall of the newspaper industry at that time.  The Globe was owned by a family trust that was expiring.
 

axx

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InstantKarmma said:
The lifetime job guarantees went away a while ago.
 
For new employees maybe. Can't imagine they would keep Cafardo, CHB, etc, on the payroll if they were not.
 

InstantKarmma

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For new employees maybe. Can't imagine they would keep Cafardo, CHB, etc, on the payroll if they were not.


No. The union gave back the guarantees a while ago.

And I don't know about Cafardo, but CHB hasn't been in the union for a number of years.
 

dcmissle

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He leaves operation alone, locking LL in a closet if he must. Writers predictably toughen their edge to prove they are not hos. Against all evidence, F and M nonetheless insist paper is now son of Pravda.
 

Monbo Jumbo

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axx said:
 
Maybe Henry has a plan to get around that awful union contract somehow. I can't imagine anyone would buy the Globe without it, even at firesale prices.
 
The NYT retained the $100 mil in Globe pension obligations in the deal. 
 

Harry Hooper

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Youkilis vs Wild said:
 
I'm torn in whether this should be indicative of a possible Sox sale or that he's going to stick around for a long, long time. 
 
Given his new custom-built house and his new wife, it seems like he's going to stick around, Doesn't necessarily mean he holds on to the Sox, though.
 

axx

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Monbo Jumbo said:
 
The NYT retained the $100 mil in Globe pension obligations in the deal. 
 
Well, there you go. Can you imagine buying a company for 1.1B and then having to sell it at negative value though?
 

AbbyNoho

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Said Globe editor Brian McGrory: “We have no plans whatsoever to change our Red Sox coverage specifically, or our sports coverage in general, nor will we be asked. The Globe’s sports reporting and commentary is the gold standard in the industry.”
 
 

Funniest thing I've ever read.
 

John Marzano Olympic Hero

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Dick Pole Upside said:
First line of CHB's column this morning:
 
Picked-up pieces while reminding all of you that John Henry’s greatness has been vastly underappreciated . . .
 
 
I chuckled at that line, it was pretty good. 
 

PedroKsBambino

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Andrew said:
 
 
 

Funniest thing I've ever read.
 
 
Brian appears to have a wall calendar reading "1985" or so that he hasn't yet flipped.
 
Sadly, there's no Globe writer today who is really a 'plus' reporter in their sport, is there?    Perhaps Dupont.
 

Granite Sox

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I think Shinzawa and Washburn are good.

Abraham, Cafardo, Manza Young? Not so much. Volin: TBD.

DuPont lost his fastball a few years back.

I think Bedard was above-average.

Your point remains. Ryan, Rosa, Gammons, and McDonough they are not.
 

CaptainLaddie

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axx said:
 
Isn't it in Dorchester though? It'd be too dangerous to put a stadium there.
Well, okay.  But if you put a stadium there, you'll see dozens of businesses and condos pop up almost overnight along with it.  It would change that part of Dotty immediately.
 

NortheasternPJ

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axx said:
Isn't it in Dorchester though? It'd be too dangerous to put a stadium there.
Its right next to the extremely dangerous Bayside Expo Center, BC High, JFK Library and UMass. Have you ever even been over there? It's not a war zone.
 

mt8thsw9th

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Yeah, but it's Dorchester!!!

That area is going to be an extension of New Southie in 15 years as more and more people get priced out of South Boston. It's really not that bad and is trending in the right direction.
 

Infield Infidel

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CaptainLaddie said:
Well, okay.  But if you put a stadium there, you'll see dozens of businesses and condos pop up almost overnight along with it.  It would change that part of Dotty immediately.
 
He owns the Sox and Liverpool. Maybe buy the Revs and stick them over there?
 

Muddy Chicken

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I live in "Dotty" and would be thrilled!  Thrilled I tell ya!  But I don't see it happening, also I'd be priced out pretty quickly...
By the way, I think that Chad Finn is 'irreplaceable' at the Globe, don't you?  (Chad, PM me for an address to send the check!)