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.