New York Times sells Boston Globe to Red Sox owner The New York Times Co. said Saturday that it had agreed to sell The Boston Globe and its other New England media properties to John W. Henry, principal owner of the Boston Red Sox, returning the paper to local ownership after two decades in which it struggled to stem the decline in circulation and revenue. Eileen Murphy, a Times spokeswoman, confirmed that Henry would pay $70-million for the paper. That would represent a staggering drop in value for The Globe, which The Times bought in 1993 for $1.1-billion, the highest price paid for a U.S. newspaper. At the time, The Globe was one of the nation's most prestigious papers in a far more robust newspaper environment. But like other newspapers, it began to lose readers and advertisers to the Internet, and revenue plummeted. The Times Co. has taken several write-downs related to the New England Media Group, and in February it said it was putting The Globe and other assets in the group up for sale. For The Globe, the planned sale restores a Boston connection that prevailed for 120 years under the Taylor family, which owned the paper from 1873 until its sale 20 years ago. While not from Boston, Henry has for the last decade been active in local sports, and his Fenway Sports Group owns the Red Sox, Fenway Park and 80 per cent of the New England Sports Network. It also owns the soccer club Liverpool FC in the English Premier League. "This is a thriving, dynamic region that needs a strong, sustainable Boston Globe playing an integral role in the community's long-term future," Henry said in a statement about the sale. In coming days there will be announcements concerning those joining me in this community commitment and effort. In addition to The Globe, the sale includes BostonGlobe.com; Boston.com; The Worcester Telegram & Gazette; Telegram.com; the direct mail marketing company Globe Direct; and the company's 49 per cent interest in Metro Boston, a free daily paper. Henry is buying the media group without partners through his acquisition company; under terms of the sale, he does not have to assume The Globe's pension liabilities. The all-cash sale is expected to close in 30-60 days.