Robert Kraft is known in New England as the man who took an also-ran football team and made it one of the premier franchises in America’s foremost pro sports league. Can he do the same for the seemingly dying newspaper industry?
On Wednesday, The Boston Globe reported that its sale was progressing, and that The New York Times Company, the newspaper’s parent company, had met with bidders and potential investors. However, a little-noticed fact in that report noted that “Representatives of the Kraft family, owners of the New England Patriots football team, also attended a presentation.”
According to the report, the company that The New York Times Company hired to sell the Globe has had at least six meetings about the paper’s sale. Representatives from The Kraft Group attended those but have not yet submitted a formal offer. A group led by the Taylor family, which originally sold the Globe 20 years ago, has submitted a bid.
As MyFoxBoston points out, the Times purchased the Globe in 1993 for $1.1 billion and is now looking to unload the paper for as little as $80 million. A sale would also include Boston.com and the Worcester Telegram.