Red Sox owner John Henry in deal to purchase The Boston Globe...

[Little Star]

Boston Red Sox principal owner John Henry entered into an agreement early Saturday to buy The Boston Globe, a deal that will put the 141-year-old newspaper, its websites, and affiliated companies into the hands of a personally shy businessman with a history of bold bets.

The impending purchase for $70 million in cash marks Henry’s first foray into the financially unsettled world of the news media.

“The Boston Globe’s award-winning journalism as well as its rich history and tradition of excellence have established it as one of the most well respected media companies in the country,” Henry said in a statement. He cited the “essential role that its journalists and employees play in Boston, throughout New England, and beyond.”

http://www.bostonglobe.com/business/2013/08/03/red-sox-owner-deal-purchase-globe-offer-bests-crowded-field-bidders/HQ55IBfPd8Am9sNL7PteBM/story.html

[Warren Stupidity]

1. The Times bought it for 1.1B. Sold it for 70M.

[chelsea0011]

2. If the sports pages start hiring NASCAR writers, I'm outta here.