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Posts Tagged ‘John Henry’

John Henry Names Himself Publisher of Boston Globe

John Henry GJohn Henry is not only the relatively new owner of The Boston Globe, he’s also the publisher. Henry, who bought the Globe from The New York Times Company for $70 million last October, has tapped himself for the role. This is the kind of decision you can make when you own things.

In an announcement, Henry said “My main role as publisher is to ensure that the Globe has the right management and that management has the resources to accomplish its mission.”

In other Globe news, Henry named Mike Sheehan CEO. Sheehan was formerly a CEO at the ad agency Hill Holliday.

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John Henry Puts Telegram & Gazette Back on the Auction Block

NewsTelegramLogoEmployees at the Worcester Telegram & Gazette, the other major paper included in the recent John Henry-New York Times deal, grumbled when their new owner quickly visited the Globe newsroom but failed to simultaneously greet, meet them. Now we know why.

Per a report this afternoon by Telegram & Gazette reporters Bob Kievra and Aaron Nicodemus, Henry told the paper’s employees he has put the paper back up for sale in hopes of finding a more locally connected Central Massachusetts patron:

“I think it’s important for the Telegram & Gazette to be under local ownership,” he told a gathering of the newspaper’s staff in the newsroom this afternoon. “I have been talking to local people who have expressed an interest. There’s absolutely nothing imminent…”

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Boston Globe Sale Goes Into Extra Innings

The bottom of the ninth for this particular media deal was last Friday. That’s when the New York Times Company was all set to complete the transfer of the Boston Globe to Red Sox owner John Henry.

NewsTelegramLogoHowever, per a report in the Worcester Telegram & Gazette (one of the other publications attached to the deal), a Superior Court judge on that same day issued a temporary restraining order blocking finalization of the $70 million transaction. It has to do with a class action suit, filed in 2009 against the Telegram & Gazette, by the paper’s carriers. From T&G editor Aaron Nicodemus:

On Monday, the New York Times asked that the judge’s restraining order be lifted, and the sale be allowed to go through. In exchange, the New York Times would set aside a sum of money — to be determined by Judge [Sharon] Frison — that would be designated to pay a future settlement in the case.

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Boston Globe Closing Date: October 15

The New York Times Company and John Henry have agreed to October 15 as the closing date for the sale of The Boston Globe. Henry, the owner of the Boston Red Sox, had his $70 million bid for the Globe accepted by the Times in August.

According to The Boston Business Journal’s sources, Henry is taking his new property quite seriously. Henry and his wife, Linda Pizzuti, have maintained a “near-daily presence” at the Globe since they won the bidding process. Their focus has been on where to move the Globe, as each proposal to purchase Globe included plans to move the paper from its current headquarters to a smaller, less expensive space.

The Globe currently occupies a building on Morrissey Blvd., valued anywhere from $29 million to $71 million. Experts claim that reclassifying the property as residential would probably increase its value above Henry’s $70 million offer for the Globe.

Freedom Communications President Points to Pair of Shining Newspaper Examples

It’s another momentous day at the Santa Ana, CA headquarters of the Orange County Register. The Eric Spitz-Aaron Kushner regime is celebrating the launch of the Long Beach Register, a new daily newspaper going head-to-head in that region with the Long Beach Press-Telegram.

Spitz is very clear about his belief in website paywalls. He made his case for valuing digital news content alongside Kushner in a recent one-year anniversary Q&A and restates those same basic principles today via Wall Street Journal op ed:

I know of only two major newspaper companies that have not seen significant declines in their subscriber bases in the past decade: The Wall Street Journal and Groupa Reforma, the largest newspaper company in Mexico. The former has never given away its digital content, and the latter erected its first paywall in 2002.

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Morning Media Newsfeed: CBS Blackout Drags On | Newsweek Sold to IBT | Red Sox Owner Buys Globe


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No Sign of Progress in CBS/Time Warner Cable Dispute (WSJ)
A blackout of CBS Corp.’s flagship network on Time Warner Cable Inc. systems in New York, Los Angeles and a few other markets dragged on through the weekend with no sign of any resolution. By Sunday afternoon the two companies couldn’t even agree on whether any talks were under way. A Time Warner Cable spokeswoman said negotiations were “ongoing,” while CBS said that “there are no negotiations taking place at this time.” TVNewser At 5 p.m. ET Friday CBS O&Os in New York, Los Angeles, Dallas, Boston, Chicago, Detroit, Denver and Pittsburgh were pulled from Time Warner Cable systems in those markets. Additionally, cable channels Showtime, The Movie Channel, Flix and Smithsonian Channel are blacked out on Time Warner Cable. NYT “There are several ways that you can still see your favorite shows, including using an antenna to get CBS free over the air.” An antenna? Where does that go, on top of the cathode-ray tube? That’s one of the tips Time Warner Cable put up on screen after it stopped showing CBS around the country on Friday. NYT The continuing impasse resulted in two popular shows on the pay cable channel Showtime, Dexter and Ray Donovan, being unavailable to fans in those areas on Sunday night. And it means that the most popular drama of the summer, CBS’ Under the Dome, is likely to be blocked to millions of viewers on Monday night. Several media analysts suggested the standoff might be protracted, with predictions ranging from about 10 days to as long as six weeks. The later date is associated with the start of the NFL season, a package of programming that everyone involved agrees cannot be denied to subscribers. Indeed, timing seems to be the dominant factor driving the dispute. Time In a tit-for-tat action, CBS responded by blocking videos of full episodes of its programming on CBS.com for Time Warner Cable broadband customers in the affected markets.

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NY Times Rumored to Sell The Boston Globe to John Henry, Boston Red Sox Owner [Update]

All the speculation about who will be the new owner of the Boston Globe might have just ended, via a baseball journalist’s digging. Peter Gammons is reporting that the New York Times is selling the paper to John Henry, the owner of the Boston Red Sox.

Henry wasn’t among the main rumored buyers, but he apparently submitted his own bid after the New England Sports Network pulled out.

We’ve reached out to the Times for comment, and we’ll update when we hear back.

Update (8/3 9:25 am):
The Times has confirmed that Henry is the new owner of the Globe. He is purchasing it for $70 million in cash, a far cry from the $1.1 billion the Times paid for it in 1993.

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Tonight’s The Night For The Boston Globe

boston-globe-logo.jpgThe Boston Globe may have just a couple hours to live. In April, the New York Times Company, which owns the Globe, said they would be forced to close the paper if the unions representing Globe staffers can’t agree to $20 million in budget cuts by midnight tonight. As the deadline approaches, the future of the 137 year-old paper is still in doubt.

> Update, Saturday a.m.: “The Boston Globe received an eleventh-hour reprieve early this morning when its owner, the New York Times Co., agreed to extend the deadline for unions to agree to $20 million in concessions until tomorrow.” Boston Globe

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