Why Didn't the Boston Globe Sell to the Highest Bidder?
Hamilton Nolan · 08/05/13 03:40PMThis weekend, The New York Times Co. sold the Boston Globe to John W. Henry, the owner of the Boston Red Sox. Henry paid $70 million. (Or negative $40 million, by more realistic calculations.) Oddly, several other bidders made higher bids than Henry. Why did the NYT Co. leave that money on the table?