Movers & Shakers: New York Times Completes Sale of Subsidiary for $70 million

John W. Henry

John W. Henry (Photo credit: Wikipedia)

 

The New York Times (NYT) has completed the sale of its New England Media Group to an acquisition company owned by John W. Henry, the principal owner of Fenway Sports Group. The amount is $70 million in cash, subject to customary adjustments. NYT 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
  • Worcester Telegram & Gazette
  • Telegram.com
  • GlobeDirect, the Globe’s direct mail marketing company

From: New York Times

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