Aaron Kushner – Page 4

New York Times Co. puts the Globe up for sale — again

As some of you no doubt already know, the New York Times Co. announced earlier today that it is seeking to sell The Boston Globe and its affiliated media properties, principally Boston.com and the Telegram & Gazette of Worcester.

When the Times Co. bought the Globe 20 years ago it paid $1.1 billion, a whopping half the company’s stock-market valuation at the time. When it tried and failed to sell in 2009, the only potential buyers interested in the Globe were reportedly offering pennies on those 1993 dollars.

We’ve been down this road before, and it’s hard to know whether the Times Co. has already lined up a buyer or if this is another fishing expedition. One name to keep an eye on, though: Aaron Kushner, a local guy who was spurned in his efforts to buy the Globe a couple of years ago and wound up with the Orange County Register instead.

Kushner is winning good marks for investing in the Register and for taking a counterintuitive print-centric approach. I can’t imagine him owning both the Register and the Globe, but might he engineer some sort of trade?

And don’t rule out another bid by the Globe’s former owners, the Taylor family — either separately or in collaboration with Kushner.

No sense delving in too deeply today. There will be much, much more to come in the days and weeks ahead.

Would-be Boston Globe owner goes all in on print

Here’s an interesting Associated Press story on Aaron Kushner, who made a run at buying The Boston Globe a few years ago and ended up with the Orange County Register instead. Kushner is betting the ranch on a print-centric approach, adding pages, improving color and — get this — pumping up the paper’s investigative-reporting capabilities.

People who wish to subscribe online will pay the same as print subscribers, Kushner says, because “the value of the journalism isn’t any less. The reporter isn’t paid any less. The photographer isn’t paid any less.” Well, OK, but the production and distribution costs are a lot less, aren’t they?

At a time when the newspaper business can’t find a way to fix itself, there’s no sense in mocking Kushner’s backward-looking approach. My suspicion is that he may enjoy some short-term success, though this is clearly no way to build for the future. But let’s see what happens. I doubt that he’s given up his hopes of buying the Globe some day, so this could be a rehearsal.

What does Kushner’s Maine move mean for the Globe?

Aaron Kushner, the greeting-card mogul who’s been trying to buy the Boston Globe for the past year, is part of a group that is acquiring the Portland Press Herald and related properties, according to reports in the Press-Herald and the Globe.

So does the Kushner group see this as a first step toward its ultimate goal — or have the investors decided to focus their attention exclusively on Maine? Chris Harte, a former Press Herald president and a member of the investment group, won’t say, according to the Press Herald.

No one knows whether the New York Times Co. would sell the Globe or not. But certainly Janet Robinson’s sudden retirement as chief executive of the Times Co., followed quickly by the sale of 16 smaller papers, has sparked speculation that the Globe might be on the block.

I recently rounded up the long, rocky history of the Times Co. and the Globe for the Huffington Post.

The Globe, Jack Connors and Mike Barnicle

I’m just catching up to this excellent analysis by Poynter’s Rick Edmonds of the Aaron Kushner group’s ongoing efforts to buy the Boston Globe from the New York Times Co. Edmonds’ bottom line: a sale is possible but unlikely.

With the Globe’s business having stabilized and the Times Co.’s debt burden eased, Edmonds writes, “It looks to me like a keeper for the company — unless someone comes forward with cash and is prepared to way overpay.”

Last week the Globe’s Brian McGrory reported that local advertising executive Jack Connors has joined the Kushner group, which already includes former Globe publisher Ben Taylor and his cousin Steve Taylor, himself a former top Globe executive. This isn’t the first time Connors has tried to become part of the Globe’s ownership.

It also raises the intriguing question of whether the specter of former Globe columnist Mike Barnicle can be far behind. Barnicle was involved in a bid by retired General Electric chief executive Jack Welch and Connors to buy the Globe several years ago, a bid that Barnicle told Boston magazine was “very serious.” In a 2007 Boston Globe Magazine piece by the legendary Steve Bailey, Barnicle’s wife, Bank of America executive Anne Finucane, was described as one of Connors’ “closest friends.”

It’s hard to know what to make of the Barnicle connection, but my guess is that it diminishes the likelihood that the Times Co. will sell the Globe. It would be the ultimate revenge for Barnicle. It’s also a victory that I suspect Times Co. chief executive Arthur Sulzberger Jr. would rather not let him have, given that Barnicle was let go by the Globe in 1998 — possibly with a push from New York — over a series of ethical transgressions.

Globe publisher Taylor was both lucky and good

William Taylor, the former Boston Globe publisher who died Sunday, was both lucky and good.

Lucky because his time as publisher coincided with an era of enormous prosperity in the newspaper industry. Good because he used that prosperity to transform the Globe into one of the best papers in the country. Under Taylor and the late editor Tom Winship, the Globe grew into a national-class paper with its own correspondents overseas and around the country.

For those who needed reminding, today’s obituary, by Bryan Marquard, explains why Taylor had to sell. With the paper on the verge of devolving to about 120 heirs, the only way Taylor could preserve the Globe’s legacy was to leave it in the hands of a good steward. He chose the New York Times Co., which paid an astounding $1.1 billion — half the Times Co.’s stock-market valuation at the time.

And if the Sulzbergers haven’t been quite the magnanimous owners Bill Taylor might have hoped for (especially when his second cousin Ben Taylor was sacked as publisher in 1999), they still have maintained the Globe’s quality to a far greater degree than a bottom-feeding chain like Gannett or a bankrupt behemoth like Tribune would have.

Bill Taylor’s death comes at a time when Ben Taylor and his cousin Steve, himself a former Globe executive, are seeking to return to some sort of ownership role as part of a group put together by local businessman Aaron Kushner.

The Taylor brand gives Kushner instant credibility — and it was Bill Taylor who was largely responsible for creating that brand.

Also: The Nieman Foundation pays tribute to Taylor.

Kushner bid to buy the Globe keeps inching along

A lightly publicized effort to buy the Boston Globe from the New York Times Co. continues to inch forward.

Casey Ross, writing in the Globe, reports that businessman Aaron Kushner is prepared to offer more than $200 million for the Globe, the Telegram & Gazette of Worcester and Boston.com. That’s considerably more than the $35 million figure that was bandied about two summers ago, which the Times Co. ultimately chose to walk away from.

No one even knows if the Sulzberger family would consider selling the Globe at this point, and Kushner is just a guy with money. What makes his bid interesting is that he’s pulled into his group such people as former Globe publisher Ben Taylor, his cousin Stephen Taylor, a former Globe executive, and Ben Bradlee Jr., a former top editor. (The Taylors were also involved in one of the efforts to buy the Globe two years ago.)

As Ross notes, the Globe is doing better today than it was during the crash-and-burn summer of 2009, though it’s hardly out of the woods. A lot of us would welcome a return to local ownership as long as that wouldn’t presage either a wholesale dismantling or a diminution of news standards and values. Kushner sounds serious about wanting to reinvent the Globe, though I suspect he’s kidding himself if he thinks he’s got some secret formula.

Earlier this year, Katherine Ozment profiled Kushner for Boston magazine. He did not, shall we say, come across as the second coming of Gen. Charles H. Taylor. Nevertheless, this is an intriguing moment in the life of the region’s dominant media organization.

Photo via Wikimedia Commons.

A possible buyer emerges for the Globe and T&G

Is the Boston Globe for sale? For the right price — maybe. An investment group headed by a 37-year-old greeting-card entrepreneur named Aaron Kushner emerged this afternoon as a possible buyer for the Globe, Boston.com and the Telegram & Gazette of Worcester.

But the New York Times Co., which wanted to sell the properties in 2009, may no longer be interested. No doubt that would change if Kushner’s group is prepared to fork over some serious money. But we don’t know that yet.

Another caution: Kushner says he wants to beef up the newsroom. Well, wouldn’t we all? He may be well-intentioned, but no one is going to bolster the Globe’s staff unless his intention is to operate the paper at a loss.

Ralph Ranalli is gathering links at Beat the Press.