New Boston Globe owner has had success in baseball

Associated Press + More

By JIMMY GOLEN, Associated Press

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.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.