Catholic Online: The 141-year-old newspaper was sold to Boston Red Sox owner John Henry. Figuring in 20 years of inflation makes the sacrifice price even worse. In addition, the Times retains the Globe’s pension liabilities, estimated at over $100 million.
The Boston Globe had been up for sale since February of this year. Bids had previously been as high as $100 million. What might have sweetened the lower offer for the Times is that Henry offered “straight cash deal,” which is expected to close sometime in September or October. Read more here.
