John Henry Pens Column Explaining Reasons Behind Boston Globe Purchase
Fenway Sports Group co-Chair JOHN HENRY in a special to the BOSTON GLOBE wrote under the header, "Why I Bought The Globe." Henry invested in the newspaper because he believes "deeply in the future of this great community, and the Globe should play a vital role in determining that future." It is "one of the best and most important news organizations in the world." While "analyzing the plight of major American newspapers back in 2009, during the throes of the recession, when the Globe's parent company, the New York Times Company considered shutting down the paper," Henry discovered "a maddening irony: The Boston Globe, through the paper and its website, had more readers than at any time in its history." But "journalism’s business model had become fundamentally flawed." Henry "grew to believe that New England is a better place with a healthy, vibrant Globe." Henry wrote his investment "isn't about profit at all," but rather "about sustainability." Henry: "My every intention is to push the kind of boldness and investment that will make the Globe a laboratory for major newspapers across the country" (BOSTON GLOBE, 10/27).