Boston Globe | Media Nation
Retired General Electric CEO
Jack Welch and adman
Jack Connors are quietly exploring the possibility of making an offer to buy the Boston Globe from the New York Times Co., reports
Steve Bailey. They're working with JPMorgan Chase & Co. to analyze a potential deal. The bank values the Globe at $550 million to $600 million, well below the $1.1 billion the Times Co. paid in 1993. Bailey writes: "Even if Connors and Welch can raise the money to buy the paper, persuading Times Co. to sell -- at their price -- and turning the business around would be challenging." ||
Dan Kennedy: "Now everyone who's ever harbored the fantasy of owning the Globe is going to surface."
