News that Ben and Steve Taylor have signed on to businessman Aaron Kushner’s bid to buy the Boston Globe has changed the dynamic. The Taylors, of course, are prominent members of the family that owned and ran the Globe for more than 100 years. Ben was the publisher before he was ousted in 1999. Steve was executive vice president.
The Taylors, who are cousins, fell short in a bid to buy the paper back from the New York Times Co. in 2009. The reason was never announced, but the buzz was that their group was undercapitalized, and that the Times Co. would have had to accept a ridiculously low price in that year of economic crisis. The Globe would undoubtedly be worth more now, but how much more is hard to say.
The significance of the Taylors’ involvement is that there now will be support within influential circles for the Times Co. to return the Globe to local ownership.
Would Times Co. chairman Arthur Sulzberger sell the Globe? By placing the Globe, the Worcester Telegram & Gazette and their associated websites on the block in 2009, he made it clear that he would if the price was right and if he and other Times Co. executives were comfortable with the buyers.
I suspect the big question they’ll now have to answer is whether they can get the price they want — or if, instead, they think they can get more by hanging on to their New England properties for another few years.
The Globe first reported Kushner’s interest last October.