The Deal
Saturday, November 7, 
10:57 pm
Alix Partners LLC presents Middle Market Review

Globe bidders interested in Red Sox too?

  Share     E-Mail    Discussion    Print Story

RedSox125x100.jpgA Boston Globe story detailing the latest rumors surrounding the New York Times Co.'s (NYSE:NYT) auction of the paper also offered some dirt on the auction of the media company's stake in Major League Baseball's Boston Red Sox.

Evidently former advertising executive Jack Connors, who reportedly is considering a bid for the Boston newspaper, reached out to Red Sox lead owner John Henry about the Times Co.'s 17.5% stake in the MLB franchise, which the Times Co. is selling in a separate Goldman, Sach & Co. (NYSE:GS) auction. Connors allegedly turned the conversation to the Globe itself, and Henry supposedly disavowed interest, reports the Globe.

Meanwhile, the story also indicates that Connors may be working the phones to build a big-tent bid for the paper. Bain Capital LLC partner and Boston Celtics co-owner Steve Pagliuca and former Boston Globe publisher Stephen Tayler, whose family sold the paper to the Times Co. in 1993 for $1.1 billion, are reportedly contemplating joining forces to bid for the struggling newspaper. The group could be a potent combination and an attractive one for the Times' Sulzberger family, which reportedly would like to sell to a group intending to keep the paper as a going-concern.

However, it seems Connors and Pagliuca are as interested in the Globe as they might be in the likely more profitable Red Sox and its ownership of cable sports channel NESN. As sports blog Deadspin notes, Pagliuca's Celtics is the only Boston franchise that doesn't own a piece of NESN -- nor does Bob Kraft's New England Patriots, but the NFL franchise doesn't play in Boston -- meaning the dealmaker may seek a stake in the paper (and maybe the Sox and NESN) to gain a media voice for his sports franchise. - Matthew Wurtzel

See story from The Boston Globe via Boston.com
See related story from Deadspin
See Globe auction profile from The Deal Pipeline (subscription required)
See Red Sox auction profile from The Deal Pipeline (subscription required)





Post a comment



footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.