An all cash deal for $70mm, and does NOT include pension liabilities.  The Times originally bought the Globe for $1.1B, so they took this loss at over 90%.  The article shows an incredible desperation by the Times.  Just a few years ago, they turned down $300mm and relief from pension liabilities.  Wow.

Sounds like someone high up is done keeping them alive.  Meanwhile, conservative/non-liberal-based news media is growing.  Don't think Henry hasn't noticed.

-----
http://www.breitbart.com/Big-Journalism/2013/08/03/New-york-times-sell-boston-globe-at-93-percent-loss

In 2011, the Times turned down a $300 million offer from Aaron Kushner, CEO of Freedom Communications, Inc., publisher of the Orange County Register and other newspapers in California. This offer even included the assumption of pension liabilities, which are currently estimated at $110 million.

The Times itself reports that today's sale to Henry does not include pension liabilities. Apparently, those remain a Times' responsibility and expense.

In September of 2002, the Boston Globe enjoyed a circulation rate of 413,000. The average weekday circulation today is nearly half that, 230,351.

90 percent loss 

Quote from: The Boo Man... on August 03, 2013, 02:42:24 PM
90 percent loss 

...and stuck with pensions!!  Talk about desperate!!  It sounds like Henry got the deal because it is cash, which tells me the Times didn't have the time to wait for anyone to put together money.  It sounds like they were at the end of their rope.

Hmm...  Henry is a old time Dem as I remember.

Quote from: walkstall on August 03, 2013, 03:33:51 PM
Hmm...  Henry is a old time Dem as I remember.

I've been looking; I haven't found anything yet...

Quote from: taxed on August 03, 2013, 03:46:08 PM
I've been looking; I haven't found anything yet...

http://www.newsmeat.com/sports_political_donations/John_W_Henry.php

Quote from: walkstall on August 03, 2013, 04:00:42 PM

http://www.newsmeat.com/sports_political_donations/John_W_Henry.php

Hah, he looks to be on one side.  I've been reading a few other things, and the guys around him say he knows he needs to be balanced for the paper to work.  I'll be really interested in seeing how he handles it.

Quote from: taxed on August 03, 2013, 04:05:13 PM
Hah, he looks to be on one side.  I've been reading a few other things, and the guys around him say he knows he needs to be balanced for the paper to work.  I'll be really interested in seeing how he handles it.

I am sure he is there to make money, not make friends.   

Quote from: walkstall on August 03, 2013, 04:07:55 PM

I am sure he is there to make money, not make friends.   

I hope so!