The New York Times Company (NYT) may have finally found a way to slough the Boston Globe — force a buyer who wants the Times stake in the Boston Red Sox to take the newspaper too.
Hedge fund manager John Henry is looking at taking control of the money-losing Boston Globe newspaper as part of a deal to buy New York Times Co’s (NYT.N) stake in the Boston Red Sox baseball team, a source familiar with the situation said on Tuesday.
John led the group that bought the Red Sox for $700 million in 2002. The New York Times followed on with a $75 million investment.
Barclays currently values that stake at $166 million.
NESV also owns a 50% stake in the Roush Fenway Racing NASCAR team and an 80% share of the NESN sports network.
Photo: Tony the Misfit
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