Worcester Telegram & Gazette

Mondo Times editors    Boulder, Colorado USA

Posted at 11:00pm on Sunday, October 18th, 2009

A group of Worcester businessmen are interested in buying the Worcester Telegram & Gazette, the Boston Globe reported on October 10, 2009:

"A group of local businessmen led by Ralph D. Crowley Jr., chief executive of Polar Beverages Co., and Harry T. Whitin, the former editor of the Worcester Telegram & Gazette, is attempting to buy the T&G from The New York Times Co., according to sources close to the sale.

The Crowley-Whitin group has been negotiating with Goldman Sachs, the Wall Street investment firm hired by the Times Co. to conduct a potential sale, according to these sources who could not speak publicly about the discussions. Those negotiations have occurred as Goldman Sachs has been dealing with two suitors seeking to buy The Boston Globe, the Times Co.’s other newspaper property in New England."

Mondo Times editors    Boulder, Colorado USA

Posted at 10:34pm on Monday, June 29th, 2009

The New York Times Co. reportedly set a bid deadline for the Boston Globe and the Worcester Telegram & Gazette, the Globe reported on June 26, 2009:

"The New York Times Co., through its investment banker, has asked potential buyers of The Boston Globe to submit preliminary bids by July 8, according to people briefed on the sale process.

The Times Co. wants to sell the Globe as part of a package that includes the Worcester Telegram & Gazette, another paper the Times Co. owns. The letter, according the people, details that the buyer would need to assume the papers’ $59 million in pension liabilities — $51 million for the Globe and $8 million for the T&G.

The Times Co. bought the Globe for $1.1 billion in 1993 and the T&G in 2000 for $295 million. The T&G is the largest daily in central Massachusetts."

The full story:
http://www.boston.com/business/ticker/2009/06/times_co_report_2.html