Boston Globe sold by New York Times Co.
BOSTON (AP) - The principal owner of the Boston Red Sox has entered into an agreement to buy The Boston Globe.
The Globe says the impending purchase marks businessman John Henry's "first foray into the financially unsettled world of the news media." It said early Saturday the deal will give Henry the 141-year-old newspaper, its websites and affiliated companies.
The New York Times Co. announced in February it was putting the Globe and related assets up for sale four years after calling off a previous attempt to sell it. The company's CEO said at the time selling the Globe would help the company focus attention on The New York Times brand.
Henry says the Globe's "award-winning journalism" and "its rich history and tradition of excellence" have established it as one of the most well-respected media companies in the country.