Last Wednesday, the day after Digital First Media outbid two other prospective buyers for the right to purchase the Boston Herald, chief operating officer Guy Gilmore sent an email to Digital First employees, which a source forwarded to me. The sale was approved by a bankruptcy judge on Friday. No closing date has been set.
If you’re wondering what Gilmore’s message portends for the Herald, well, you won’t find much here. But it may be of some interest.
I am writing to announce that DFM has won the right to acquire the Boston Herald by submitting the highest bid in an auction held yesterday in Boston. The Herald is a significant newspaper — a local institution that is also widely recognized across the entire country.
This acquisition is important in a number of ways. Most obviously it expands our footprint in the New England region where we already own and operate two dailies nearby. It is a vote of confidence by our Board of Directors that our team has the skill to successfully operate this well known metro newspaper. And it is a clear indication that our leadership is interested in expanding its newspaper holdings when the right opportunity presents itself.
Not long ago, DFM acquired The Orange County Register and Riverside Press-Enterprise. The integration of those newspapers into DFM’s existing cluster of Southern California newspapers has been extraordinarily successful. Adding the Boston Herald to our existing group of papers in the Northeast is another such opportunity. Clearly, DFM is a buyer, and a buyer of strong brands.
Meanwhile, on a more general note, let me reassure you that your company continues to outperform its peers in virtually every category. To quote my predecessor, “our company is fortunate to have a deeply talented and dedicated team committed to building a strong and sustainable business that will allow us to continue fulfilling our mission and serving our communities for years to come. Your contributions are greatly appreciated.”