The Globe had already been printing and delivering about one-third of the Herald's print circulation -- an agreement the two papers had reached last year.
“This agreement represents an important component for the future of our business,” Richard E. Masotta, Globe vice president of operations said in a press release that the agreement "represents an important component for the future of our business" and addresses "the structural challenges of our industry."
Boston Herald Publisher Patrick Purcell is quoted in the same release as saying:
“The newspaper industry, as well as other traditional media companies, has undergone a radical transformation in recent years. In the face of that change, it has never been more important for newspapers to implement ways in which they can be more efficient. The Herald and The Globe both recognize this. While we will continue to compete for readers and advertisers, we also recognize that we can serve those audiences better and longer by cooperating in areas that are cost effective.” Related: Report: Boston Globe bidders include Doug Manchester, Patriots’ owners