The New York Times Company announced today the completion of the sale of its New England Media Group to an acquisition company owned by John W. Henry, the principal owner of Fenway Sports Group, for $70 million in cash, subject to customary adjustments. The company intends to use the net proceeds for general corporate purposes.
The principal properties that make up the New England Media Group are:
• The Boston Globe.
• Worcester Telegram & Gazette.
• GlobeDirect, the Globe's direct mail marketing company.