Might Boston be in for a colossal media makeover? So suggests the Financial Times:
The New York Times is aggressively courting buyers for its stake in
the Boston Red Sox baseball team and potentially the Boston Globe
newspaper in a transaction that could attract bids worth $200m-$225m,
according to a person familiar with the matter.
The news that the NYT Co. is trying to sell its stake in the Red Sox is interesting. But what really struck me about today's Wall Street Journal story was the little tidbit relegated to the end of the fifth graf:
It is possible the Globe could be packaged with the sports assets in a
sale. Jack Connors, a former ad executive in Boston, and former General
Electric Chief Executive Jack Welch took a serious look at the Globe
two years ago, valuing it at $550 million to $600 million, people close
to them said at the time.