Boston Red Sox principal owner John Henry struck a deal in the wee hours of Saturday morning to purchase the Boston Globe newspaper from the owner of the New York Times, according to an article in the Boston Globe.
Henry, 63, is purchasing the Globe and its affiliated website Boston.com from the New York Times Co. for $70 million in cash.
Henry and his business partners Tom Werner and Larry Lucchino purchased the Red Sox in 2002 and delivered two World Series championships and extensive renovations to the club’s home Fenway Park. Henry and Werner’s company also owns 80 percent of the New England Sports Network (NESN), the 24-hour cable sports network that heavily promotes the Red Sox. Now Henry will own the Globe sports page as well.
“Reminding all of you that John Henry’s greatness has been vastly underappreciated…” wrote Globe sports columnist and occasional Henry critic Dan Shaughnessy at the top of his Saturday column.
Henry and Werner’s company also owns the storied English Premier League soccer club Liverpool F.C.
The New York Times Co. reported decreased revenues for the quarter Thursday. The company’s advertising revenue fell 11 percent last year and continues to decline at a 5.8 percent rate.