Market Overview

New York Times to Sell Boston Globe and Other New England Media Properties to John W. Henry for $70M in Cash

The New York Times Company (NYSE: NYT) has entered into an agreement to
sell its New England Media Group to an acquisition company owned by John
W. Henry, the principal owner of Fenway Sports Group, for $70 million in
cash, subject to customary adjustments. The all-cash transaction is
expected to close in 30 to 60 days. The company intends to use the net
proceeds for general corporate purposes.

The principal properties that make up the New England Media Group are:

The Boston Globe

BostonGlobe.com

Boston.com

See full press release

Posted-In: News Contracts Asset Sales Management M&A Global

 

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