New Boston Globe owner has had success in baseball

Associated Press

Posted on August 3, 2013 at 10:02 PM

Updated today at 5:02 AM

BOSTON (AP) ? John W. Henry took a backward ballclub in a dilapidated park and transformed it into a two-time World Series champion that is one of baseball's model franchises.

As the owner of The Boston Globe, he will try to turn around a newspaper that ? like many other major metro dailies ? is shedding staff, subscribers and advertisers as it makes the transition into the internet age.

Henry agreed to buy the Globe along with the Worcester Telegram & Gazette and the Boston Metro for $70 million. That's a fraction of the $1.1 billion The New York Times Co. paid 20 years ago.

Henry is the son of southern Illinois soybean farmers now worth an estimated $1.5 billion.

Source: http://www.wfaa.com/news/business/218231591.html

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