Aug 3 The New York Times Co has agreed
to sell The Boston Globe to the principal owner of the Boston
Red Sox baseball team, John W. Henry, for $70 million in cash,
ending its 20-year ownership of the paper.
The transaction announced on Saturday includes the Worcester
Telegram & Gazette, related digital properties of both papers,
and a direct mail marketing company.
The sale caps years of uncertainty for the Globe, which was
put on the auction block twice.
The New England properties were the last pieces of a once
much bigger empire. The New York Times Co has sold off
everything - TV and radio assets, dozens of U.S. regional
papers, digital companies, and its stakes in sports ventures -
to focus solely on its flagship and international edition.