According to Boston Globe columnist Robert Gavin, a team of investors and management specialists are prepared to make a bid to purchase The Globe from The New York Times Co. Yesterday Wellesley, MA entrepreneur Aaron Kushner announced that his group, the 2100 Trust, will soon propose an offer to acquire The Boston Globe, Boston.com, and Worcester Telegram & Gazette — all properties of The Times Co.’s New England Media Group.
The Times Co. bought The Boston Globe in 1993 for $1.1 billion. Following a year scouting for potential buyers, the company pulled the paper off the market after receiving bids of roughly $35 million. After hearing that low-ball offer, many would be led to believe The Boston Globe has been a bad investment, however a statement released by The Times Co. spokeswoman Abbe Serphos may cause you to think otherwise:
“We do not comment on rumors of acquisitions or divestitures. The Boston Globe is an important part of The New York Times Company. The Globe has made excellent progress and is on solid financial footing. Its continued digital and print progress signals a strong future.”