Kraft interested in buying the Globe?

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    Kraft interested in buying the Globe?

    New York Times ‘pleased’ with Boston Globe interest Meets with bidders, potential investors

     By  Beth Healy |  GLOBE STAFF   

      MAY 15, 2013

    Times Co. chief executive Mark Thompson said the Globe is a “very distinct business from The New York Times.”

    UK BROADCASTERS POOL VIA AP/FILE

    Times Co. chief executive Mark Thompson said the Globe is a “very distinct business from The New York Times.

     

    New York Times Co. chief executive Mark Thompson told investors at a conference in Boston on Tuesday that he was “pleased” so far with the amount of interest the company had attracted from potential buyers for The Boston Globe.

    Thompson, speaking at the ­JPMorgan Global Technology, Media and Telecom Conference on the waterfront, declined to discuss more concrete details of the sale process. The Times Co. said in February it planned to sell the New England Media Group, which includes the Globe, to focus on its flagship newspaper and an international strategy.

    Thompson, in response to a moderator’s question, said, “We’ve been very pleased with the interest, and the progress, that’s been expressed so far.”

    Thompson called the Globe “a great newspaper in a great city” and cited recent coverage of the Marathon bombings as a display of strength. However, he said the Globe, as a regional newspaper, is “a very distinct business from The New York Times.”

    The Times Co. has hired the investment banking firm Evercore Group to seek bids for the Globe, the BostonGlobe.com and Boston.com websites, The Worcester Telegram & Gazette, and other assets. In recent weeks, Evercore has held a series of at least six meetings with bidders and potential investors in the Globe, according to several people involved in or briefed on the meetings. Globe executives were asked to make presentations at those meetings.

    Among those who attended presentations are a group comprising former Time Inc. chief executive Jack Griffin and two members of the Taylor family, according to several people briefed on the meetings. The Taylors sold the Globe to the Times Co. 20 years ago.

    Representatives of the Kraft family, owners of the New ­England Patriots football team, also attended a presentation, ­according to people briefed on the matter who were not ­authorized to discuss it.

    A third group whose interest in the Globe has been previously reported — Heb Ryan of the private equity firm Boston Post Partners and Richard Daniels, a former Globe president — has not received a presentation, according to people with knowledge of the situation, because the group refused to meet certain demands of the investment bankers.

    “Boston Post Partners remains interested in working with Evercore and is committed to acquiring The Boston Globe and the related assets,’’ said the group’s spokesman, Jon Tapper of Melwood Global, in a ­statement. “We have the ­operating plan and Boston-based financing to make a ­competitive offer and move the business forward.”

    A bid by Ryan and Daniels on the Globe in January preceded the Times Co.’s decision to pursue an auction of New England’s largest daily newspaper. At the time, they submitted an offer of about $70 million, before the assumption of pension liabilities, which the Times has since said it plans to keep.

    The next phase of the ­process is to open a virtual ­“data room” with more ­in-depth financial information on the company for those interested in offering formal bids.

     
  2. You have chosen to ignore posts from Quagmire3. Show Quagmire3's posts

    Re: Kraft interested in buying the Globe?

    Kraft is to smart for this. Newspapers as we know them have about 5-10 years life left in them MAX. Everything will be online by then. Who will want to pay for the paper online when you can go to Fox, CNN, ESPN ect for free.

     
  3. You have chosen to ignore posts from wozzy. Show wozzy's posts

    Re: Kraft interested in buying the Globe?

    He's in the paper business, don't tell him hard copy is a thing of the past...

    I just would like the rights to BDC.com/sports... Is that possible?

     
  4. You have chosen to ignore posts from moskk. Show moskk's posts

    Re: Kraft interested in buying the Globe?

    In response to Quagmire3's comment:
    [QUOTE]

    Kraft is to smart for this. Newspapers as we know them have about 5-10 years life left in them MAX. Everything will be online by then. Who will want to pay for the paper online when you can go to Fox, CNN, ESPN ect for free.

    [
    Perhaps the Kraft family is interested in re-inventing the Hearst empire? Just kidding but although I have read about the ultimate demise of the newspaper business perhaps newspapers need to re-invent themselves. For small local areas the most cost effective way to advertise is still the newspaper.  For some businesses advertisement represents their lifeblood.

    What has hurt the newspaper business is lack of  cost control. Rising costs increase the cost of advertising as well as subscriptions leading to  decreasing circulation. The spiral has yet to be broken and until it does the newspaper may well fade into oblivion. Yet it's still a needed resource for both business and consumer information. Newspapers must make themselves indispensible as they had been for decades. Whether they can is the big question.

    While their value as a political weapon has been deminished by T.V. news outlets they still represent an important resource.

     
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  6. You have chosen to ignore posts from Philskiw1. Show Philskiw1's posts

    Re: Kraft interested in buying the Globe?

    I think International paper and GP own the state of maine. I know some people who have built houses on leased land.

     
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  8. You have chosen to ignore posts from wozzy. Show wozzy's posts

    Re: Kraft interested in buying the Globe?

    In response to BassFishingII's comment:

    He's in the recycling business, actually. It's not just paper.  I used to work in the industry for a short time and woked with International Paper.

    This would be hilarious. If he buys it he can fire Tony Mazz, Shaughnessy and Gasper and we can get some real writers in here.

    lmao



    Recycled paper

    Maybe he'll make you a mod?

     

     
  9. You have chosen to ignore posts from CatfishHunter. Show CatfishHunter's posts

    Re: Kraft interested in buying the Globe?

    In response to Quagmire3's comment:

    Kraft is to smart for this. Newspapers as we know them have about 5-10 years life left in them MAX. Everything will be online by then. Who will want to pay for the paper online when you can go to Fox, CNN, ESPN ect for free.




    While newspapers will soon be in the rearview mirror the smart companies have developed an online presence with heavy traffic.   BDC, for all its warts is one example.  And what is free today will not be free forever.

    People will look back on these days of free access with nostalgia.  More and more content is headed behind the pay wall and by 2020 people will be wondering what happened.

     
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  12. You have chosen to ignore posts from Quagmire3. Show Quagmire3's posts

    Re: Kraft interested in buying the Globe?

    Perhaps the Kraft family is interested in re-inventing the Hearst empire? Just kidding but although I have read about the ultimate demise of the newspaper business perhaps newspapers need to re-invent themselves. For small local areas the most cost effective way to advertise is still the newspaper.  For some businesses advertisement represents their lifeblood.

    What has hurt the newspaper business is lack of  cost control. Rising costs increase the cost of advertising as well as subscriptions leading to  decreasing circulation. The spiral has yet to be broken and until it does the newspaper may well fade into oblivion. Yet it's still a needed resource for both business and consumer information. Newspapers must make themselves indispensible as they had been for decades. Whether they can is the big question.

    While their value as a political weapon has been deminished by T.V. news outlets they still represent an important resource.

    [/QUOTE]


    I happen to agree with you. To me there is nothing better in the morning than grabbing a cup of coffee and reading the hardcopy newspaper! I just think in time it will be gone.

     
  13. You have chosen to ignore posts from CablesWyndBairn. Show CablesWyndBairn's posts

    Re: Kraft interested in buying the Globe?

    I miss the days of coffee and the paper, reading the news on my I Pad just isn't the same.  But on the other hand, I'm becoming like the 20-somethings in that I like to see my news constantly updated and newpapers just can't do that.  I used to love getting the Globe sports page on Sundays and reading Gammons, McDonough, etc. 

     
  14. You have chosen to ignore posts from harleyroadking1. Show harleyroadking1's posts

    Re: Kraft interested in buying the Globe?

    can he rid this place of trolls

     
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  17. You have chosen to ignore posts from tcal2-. Show tcal2-'s posts

    Re: Kraft interested in buying the Globe?

    He already publishes a paper...Patriot’s Football Weekly.  I subscribed from about 2001 to 2006 then decided it cost way too much, though the training camp reports during the dog days of Summer were great.

     
  18. You have chosen to ignore posts from 42AND46. Show 42AND46's posts

    Re: Kraft interested in buying the Globe?

    In response to Rocky's comment:

    New York Times ‘pleased’ with Boston Globe interest Meets with bidders, potential investors

     By  Beth Healy |  GLOBE STAFF   

      MAY 15, 2013

    Times Co. chief executive Mark Thompson said the Globe is a “very distinct business from The New York Times.”

    UK BROADCASTERS POOL VIA AP/FILE

    Times Co. chief executive Mark Thompson said the Globe is a “very distinct business from The New York Times.

     

    New York Times Co. chief executive Mark Thompson told investors at a conference in Boston on Tuesday that he was “pleased” so far with the amount of interest the company had attracted from potential buyers for The Boston Globe.

    Thompson, speaking at the ­JPMorgan Global Technology, Media and Telecom Conference on the waterfront, declined to discuss more concrete details of the sale process. The Times Co. said in February it planned to sell the New England Media Group, which includes the Globe, to focus on its flagship newspaper and an international strategy.

    Thompson, in response to a moderator’s question, said, “We’ve been very pleased with the interest, and the progress, that’s been expressed so far.”

    Thompson called the Globe “a great newspaper in a great city” and cited recent coverage of the Marathon bombings as a display of strength. However, he said the Globe, as a regional newspaper, is “a very distinct business from The New York Times.”

    The Times Co. has hired the investment banking firm Evercore Group to seek bids for the Globe, the BostonGlobe.com and Boston.com websites, The Worcester Telegram & Gazette, and other assets. In recent weeks, Evercore has held a series of at least six meetings with bidders and potential investors in the Globe, according to several people involved in or briefed on the meetings. Globe executives were asked to make presentations at those meetings.

    Among those who attended presentations are a group comprising former Time Inc. chief executive Jack Griffin and two members of the Taylor family, according to several people briefed on the meetings. The Taylors sold the Globe to the Times Co. 20 years ago.

    Representatives of the Kraft family, owners of the New ­England Patriots football team, also attended a presentation, ­according to people briefed on the matter who were not ­authorized to discuss it.

    A third group whose interest in the Globe has been previously reported — Heb Ryan of the private equity firm Boston Post Partners and Richard Daniels, a former Globe president — has not received a presentation, according to people with knowledge of the situation, because the group refused to meet certain demands of the investment bankers.

    “Boston Post Partners remains interested in working with Evercore and is committed to acquiring The Boston Globe and the related assets,’’ said the group’s spokesman, Jon Tapper of Melwood Global, in a ­statement. “We have the ­operating plan and Boston-based financing to make a ­competitive offer and move the business forward.”

    A bid by Ryan and Daniels on the Globe in January preceded the Times Co.’s decision to pursue an auction of New England’s largest daily newspaper. At the time, they submitted an offer of about $70 million, before the assumption of pension liabilities, which the Times has since said it plans to keep.

    The next phase of the ­process is to open a virtual ­“data room” with more ­in-depth financial information on the company for those interested in offering formal bids.




    better him than Adolph Murdoch 

     
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