Robert Kraft to Buy the Boston Globe?

According to the Boston Business Journal and the Boston Globe itself, owner of the Patriots and Kraft Food Group Robert Kraft is interested in buying the Boston Globe. Members of the Kraft Group have received a presentation that pitches the Boston Globe. The purchase would also include Boston.com and the Worcester Telegram.

The New York Times Company has hired a group to pitch the Boston Globe to potential suitors. Professional estimates have the Globe selling for between 80-120 million dollars, but is a substantial loss as the New York Times Company bought it in 1993 for 1.1 billion dollars.

The Globe has been struggling for a while, but is still a major source for news in the Boston area. Maybe with the right kind of care, Robert Kraft can restore it to its glory days and make it a top selling newspaper again. It would certainly be interesting to see the coverage of the Patriots if the Globe is, in fact, purchased by Robert Kraft.

It’s a tough rescue as the Globe’s value has been steadily declining, but Robert Kraft has purchased radio stations in the past so it would seem as if he has a little bit of experience in purchasing media and news outlets. Kraft is one of five potential buyers that could purchase the Globe.

Josh Brown