Boston Globe’s $70M sale by NYT finalized

10/25/2013

BOSTON — The New York Times Co. sale of the Boston Globe to businessman John Henry was finalized Thursday.

Mr. Henry paid $70 million in cash for the New England Media Group, which includes the Globe and the Telegram & Gazette of Worcester, along with Web sites for both papers and the Globe’s direct mail marketing company, the Times Co. said. The price is a big drop from the $1.1 billion the Times Co. paid for the Globe 20 years ago.