Red Sox principal owner John W. Henry, who early Saturday signed a deal to buy The Boston Globe from The New York Times Co., prevailed over a half-dozen rival bidders for two main reasons: He was rooted in Boston and had plenty of cash.
Henry agreed to pay $70 million for the 141-year-old Globe, its websites, and affiliated properties, the Times Co. said. The deal followed weeks of negotiations that culminated in a marathon session Friday night, with Henry and his lawyers ensconced in his suite at Fenway Park, trading calls and messages with Times Co. officials as the Arizona Diamondbacks edged out the Red Sox.
While he has not yet unveiled his plans for the company, Henry released a statement that stressed the newspaper’s “essential” role and lauded its “award-winning journalism.” Full story for BostonGlobe.com subscribers.
Beth Healy can be reached at firstname.lastname@example.org.