CoreBiz Solutions

Boston Globe Is Sold Including Boston.com & New gTLD .Boston For 70 Million To Owner of Red Sox

Boston Red Sox principal owner John Henry is going to buy  The Boston Globe.  The Boston Globe also owns and operates Boston.com and is the sole applicant for the new gTLD .Boston for $70 million in cash.

The seller is the Times Co. which operates the New York Times.

The Times Co. is taking a huge beating on the transaction as it purchased the Globe for $1.1 billion it paid for the paper in 1993.

The Company as I mentioned is also the owner (although not being reported in the mainstream press) is the applicant for the new gTLD .Boston which they have the city of Boston’s backing on.

Neustar guaranteed the City of New York 3.6 Million dollars to get the rights to operate the .NYC extension or about 5% of what the entire Boston Globe company just sold for.

The Boston Globe since they also own and operate Boston.com was the natural applicant for .Boston.