Red Sox Principal Owner to Buy Boston Globe Newspaper

New York Times Co. has struck a deal to sell the Boston Globe to John Henry, the principal owner of the Red Sox.

The sale, a cash deal for $70 million announced in the early hours of Saturday morning, is the latest step by the publisher to shed assets unrelated to its namesake newspaper, as it grapples with years of steadily declining print advertising that has devastated the newspaper industry generally. In addition to the Globe, the deal includes other assets in Times Co.’s New England Media Group, such as Boston.com, the Worcester Telegram & Gazette and other media properties.

In a news release, Times Co. CEO Mark Thompson said that “as a result of this agreement, we will be able to sharpen our company focus on and investments in The New York Times brand and its journalism.”

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