Henry Says He'll Sell T&G
Boston Red Sox owner John W. Henry announced that he plans to sell the Telegram & Gazette during a visit to the T&G’s downtown offices Tuesday afternoon, the newspaper reported on its website.
The announcement came one month after the billionaire acquired the T&G and the Boston Globe from New York Times Co. in a $70 million deal.
Henry's visit Tuesday was his first to the T&G and he apologized to the staff for waiting so long to discuss his plans for the 147-year-old newspaper, the T&G report said.
No sale is imminent, according the T&G, which reported that Henry said he prefers to sell the newspaper to a local owner. He also said a sale won't take place until at least 2014, the T&G reported.
The New York Times bought the T&G for $296 million 14 years ago, and nearly sold it to a group of local investors headed by Ralph Crowley Jr., CEO of Polar Beverages. But the Times decided to hang onto it when deemed the newspaper was financially solvent.
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