The Times reports it's selling the Globe (and the Worcester Telegram) to Sox owner John Henry for $70 million - $30 million less than Henry and partners recently agreed to pay Dustin Pedroia over eight years.
Actually, as Frank Caprio reminds us, Henry is paying less for the Globe than he agreed to pay for Carl Crawford.
Dan Kennedy raises some questions, starting with whether Henry will seek to bolster the bottom line by investing - look at what Aaron Kushner, who once wanted to buy the Globe, is doing in California - or by doing what most other publishers are doing, i.e, laying everybody off.
Can a paper owned by the main owner of the Red Sox fairly cover the Red Sox? And whither Morrissey Boulevard, where the Globe sits on a large piece of land in what is becoming a hot development area?
Michael Femia has an idea for Henry:
John Henry will make back every cent he's spending on the Globe if he makes the firing of Dan Shaughnessy a pay-per-view event.
The Outraged Liberal wonders if the announcement of the deal was delayed after midnight to screw with the Herald, adds:
To be fair, Henry and his partners have been good stewards of the Red Sox and have helped bring on an era to revitalization to the once moribund area around Fenway Park.
But the business scenario is quite different: Henry can't open his wallet and bring in high-priced free agents to staff the city desk and the Statehouse. He also has nowhere near the leverage to raise ticket prices, particularly on the every dwindling coterie of loyalists who have sustained higher costs and poorer service as home delivery customers.
Jack Sullivan notes an interesting tidbit buried in the Times story about how the Times didn't necessarily make out quite so badly on the sales price - roughly 93% less than what they'd paid for the Globe (and Worcester Telegram) back in the day:
The Times Co., like other business owners, withdrew a large stream of cash from the Globe during its ownership — a sum at least equal to the purchase price, according to several former high-ranking Globe executives.
Bonus fun fact: This is not the first time the Globe and the Sox have had the same owner. Between 1904 and 1911, the Taylor family, which owned the Globe, also owned the Sox. In fact, they're the ones who came up with the name (h/t Liam Sullivan for this).