IF JACK WELCH IS INTERESTED IN THE BOSTON GLOBE... YOU BETTER WATCH OUT
From today's Boston Globe:
Two of Boston's best-known businessmen -- retired General Electric Co. chief executive Jack Welch and adman Jack Connors -- are quietly exploring the possibility of making an offer to buy The Boston Globe from The New York Times Co.
While neither Welch nor Connors would comment, several executives who have participated in the discussions caution the plans are preliminary.
But the executives are working with the investment bank JPMorgan Chase & Co. to analyze a potential deal.
They say JPMorgan has valued the Globe at $550 million to $600 million, well below the $1.1 billion the Times Co. paid in 1993.
Times Co. has said repeatedly that the Globe, despite its continued poor financial results, is not for sale.
Two of Boston's best-known businessmen -- retired General Electric Co. chief executive Jack Welch and adman Jack Connors -- are quietly exploring the possibility of making an offer to buy The Boston Globe from The New York Times Co.
While neither Welch nor Connors would comment, several executives who have participated in the discussions caution the plans are preliminary.
But the executives are working with the investment bank JPMorgan Chase & Co. to analyze a potential deal.
They say JPMorgan has valued the Globe at $550 million to $600 million, well below the $1.1 billion the Times Co. paid in 1993.
Times Co. has said repeatedly that the Globe, despite its continued poor financial results, is not for sale.
0 Comments:
Post a Comment
<< Home