Apr 1, 2010, 12:47 PM EDT
Back in 2002 the New York Times bought 17.75 percent of the Boston Red Sox (along with Fenway Park, the New England Sports Network, and a few other properties) as part of an investment group led by principal owner John Henry.
Eight years later the newspaper has sold off 1.18 percent of New England Sports Ventures to “a venture capitalist” named Henry F. McCance. No word yet on the sale price, but according a report about the New York Times in the New York Times the newspaper initially paid $75 million for the 17.75-percent stake in 2002.
Richard Perez-Pena writes that the newspaper was “eager to marshal cash and shed non-core investments in a rough time for the newspaper business, the Times Company began looking for a buyer about a year and a half ago, hoping to sell its entire stake.” Or maybe they just didn’t like the John Lackey signing.
Oh, and as an added twist, the New York Times actually owns the Boston Globe, which of course covers the Red Sox.
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- Buster Olney: The Marlins should hire A-Rod to be their next manager 43
- Breaking down the Braves-Dodgers trade 18
- And That Happened: Tuesday’s scores and highlights 34
- So that Juan Uribe trade to the Braves is back on … 11
- Ruben Amaro apologizes for comments about fans, admits he may have been late on rebuild 24
- Jonathan Lucroy expected to rejoin the Brewers on Monday 0
- And That Happened: Wednesday’s scores and highlights (133)
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- And That Happened: Monday’s scores and highlights (71)
- Ruben Amaro dismisses fans who “bitch and complain” about the Phillies’ moves (71)