Online Journalism Blog

Monday, November 27, 2006

NY TIMES CO. TO WELCH: NO GLOBE FOR YOU!

Not exactly based in online journalism, but it's another chapter in the ongoing saga at the Boston Globe. According to a report, it appears that the New York Times Co. has rejected all potential bidders for the Morrissey Boulevard broadsheet, including the proposal of former General Electric CEO Jack Welch to buy the Globe for $600 million -- half as much as the NYTC paid to get 'The Pulse of Boston' back in 1993.

It appears that, for now, the wave of high-profile newspaper acquisitions by local entities has ebbed. As alluded to in the article, the Philadelphia Enquirer and Daily News got bought from McClatchy's clutches by a local group around the same time that Welch began to show his cards to the Times Co.

I notice that a Globe reporter was shown the letter from NYTC CEO Janet Robinson and I wonder if this will open up a story that will pin down why exactly that the parents decided to keep the Globe around their house. Here's the full report, you can check it out for yourself.

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