Henry selling T&G but not Millbury plant
John Henry says he wants to find a local buyer for the Worcester Telegram & Gazette but not the T&G’s printing plant in Millbury, which could be part of a plan to redevelop the land on which the Boston Globe sits.
Henry came to the Telegram & Gazette on Tuesday to tell employees that if he can’t find the “right buyer” for the newspaper, “you’re stuck with me.” He said no sale is imminent and nothing would be announced until 2014. He was accompanied by Christopher Mayer, the publisher of the Globe, an indication Mayer will be remaining in his position.
According to the T&G story on Henry’s visit, the printing plant in Millbury built in 1992 would be excluded from any sale. As CommonWealth earlier reported, the Millbury plant could be the key to Henry redeveloping the land on which the Globe currently sits in Dorchester.
The Globe currently prints its own newspaper as well as the Boston Herald, the Patriot Ledger, most editions of the T&G, the Brockton Enterprise, and the northeast edition of the New York Times. If Henry wants to move the Globe and redevelop the land, he needs to find another way to print the newspapers. Many believe the Millbury plant could be modified to handle the work.
Henry bought the Globe and Telegram & Gazette from the New York Times Co. for $70 million. The Times paid $1.1 billion for the Globe in 1993 and $295 million for the Telegram & Gazette in 2000.
Potential buyers for the T&G haven’t surfaced yet, but some names are circulating, including Ralph Crowley, the head of the Polar Beverage Co., who unsuccessfully sought to buy the newspaper in 2009. Mayer said he had talked to some local businessmen in Worcester who were interested in buying the paper and received an inquiry from GateHouse Media, which owns the Patriot Ledger and the Enterprise. The Herald, in its story on the T&G, offers a rundown of some of the potential buyers.
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