The New York Times Co is set to sell the Boston Globe to the principal owner of the Boston Red Sox baseball team for 70 million dollars in cash.
Red Sox owner John W. Henry got the Boston Globe for less than a tenth of what the New York Times paid when it bought the newspaper for $1.1 billion in 1993, Fox News reports.
According to the report, the deal also includes the Worcester Telegram and Gazette, which the New York Times bought for about 300 million dollars in 2000.
It also includes related digital properties of both papers, and a direct mail marketing company, the report added.
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