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Tag: Jack Connors

On at least two occasions, Jack Connors was part of efforts to buy The Boston Globe

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On July 24, 2024

In Media

Steve Bailey’s profile of Jack Connors in The Boston Globe Magazine of June 3, 2007

In his obituary of Boston businessman and philanthropist Jack Connors, who died Tuesday at 82, Boston Globe reporter Bryan Marquard reminds us that Connors was part of several failed attempts to buy the Globe from the New York Times Co., which finally sold it to financier and Red Sox principal owner John Henry in 2013. Marquard’s obit, by the way, is remarkable, and includes quotes from an interview Connors gave just last week as he was dying of cancer.

The first time Connors’ name came up in connection with an attempt to purchase the Globe was in the fall of 2006, when he partnered with retired General Electric chief executive Jack Welch and concession magnate Joseph O’Donnell. But with Times Co. chief executive Janet Robinson all but coming right out and saying the Globe was not for sale, talk of a Welch-led sale faded away. O’Donnell died earlier this year, and Welch — who died in 2020 — does not enjoy the sterling reputation he had back when he was at the height of his power and influence.

Connors’ second run at the Globe came in 2011, when he was part of a group headed by entrepreneur Aaron Kushner, who tried to convince the Times Co. to sell him the paper even though the paper’s executives were adamant that it wasn’t available. Former Globe publisher Ben Taylor and his cousin Steve Taylor, himself a former top Globe official, were involved in the Kushner bid as well. At that time Poynter business analyst Rick Edmonds wrote that with the Globe’s business having stabilized following a crisis in 2009 and the Times Co.’s debt burden eased, “It looks to me like a keeper for the company — unless someone comes forward with cash and is prepared to way overpay.”

Ultimately Kushner was spurned, and then he lost out on a bid to purchase the Portland Press Herald in Maine. In 2012, a Kushner-headed group bought The Orange County Register in Southern California, and he quickly ran it into the ground with a hiring spree that he mistakenly believed would result in a massive influx of new readers and advertising revenues. (I wrote about Kushner’s misadventures in Boston, Portland and Orange County for my 2018 book “The Return of the Moguls.”) Today the Register is a shell of its former self, having been acquired out of bankruptcy by Alden Global Capital’s MediaNews Group.

Connors’ name also came up in 2013 before the Globe was purchased by Henry.

What kind of a newspaper owner would Jack Connors have been? He was kind and generous, according to all accounts, but he would have been a minority owner with only a limited say in the Globe’s direction. Globe readers should be glad that the paper was never headed by “Neutron Jack” Welch or by Kushner, whose business plan for the Globe — a copy of which I obtained and wrote about in “Moguls” — was utterly unrealistic, depending on the same sort of unaffordable expansion that led to disaster in Southern California.

The praise that is now flowing for Connors is well deserved. He was, by all accounts, a kind and generous man. And I have one suggestion for the Globe. On June 3, 2007, the Sunday magazine published a terrific profile of Connors by then-business columnist Steve Bailey. You have to do a deep dive into the archives in order to find it. Why not republish it online?

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The late Joe O’Donnell was once part of a group that wanted to buy the Globe

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On January 8, 2024

In Media

There’s a small omission in The Boston Globe’s obituary of Joe O’Donnell. Bryan Marquard writes that O’Donnell was part of a group that once tried to buy the Red Sox, a prize that was ultimately won by John Henry. What the story doesn’t mention, though, was that O’Donnell also tried to buy the Globe itself. I made mention of it in 2007 in an article I wrote for CommonWealth Magazine, writing that there had been some talk the previous fall that the New York Times Co. might be getting ready to offload the Globe:

The speculation briefly reached a fever pitch last fall, when retired General Electric chief executive Jack Welch, advertising executive Jack Connors, and concession mogul Joseph O’Donnell spread the word that they would like to buy the Globe. But with Times Company chief executive Janet Robinson all but coming right out and saying the Globe is not for sale, talk of a Welch-led sale has died down.

Two years later, the Times Co. did try to sell the Globe, only to pull it off the market when it apparently couldn’t get the price it wanted. Then, in 2013, the Times finally sold the Globe to none other than John Henry, O’Donnell’s rival in the Red Sox sweepstakes. In my book “The Return of the Moguls,” I wrote that Connors was among the suitors who competed with Henry for the Globe; I did not record whether O’Donnell was part of that second Connors bid.

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How Brian McGrory talked John and Linda Henry into buying The Boston Globe

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On September 8, 2022

In Media, The Return of the Moguls

John and Linda Henry have owned The Boston Globe for nearly nine years, but they have never hired an editor. Brian McGrory, who announced Wednesday that he’ll be leaving at the end of the year to become chair of Boston University’s journalism department, had been named to the top newsroom job during the final months of New York Times Co. ownership. In this excerpt from my 2018 book, “The Return of the Moguls,” I tell the story of how McGrory recruited the Henrys to stave off the possibility of corporate chain ownership.

Rumors that The Boston Globe might be for sale began circulating as far back as 2006, when a group headed by retired General Electric chief executive Jack Welch, who was a Boston-area native, and local advertising executive Jack Connors was reported to be nosing around. At the time, the Globe was said to be valued at somewhere between $550 million and $600 million, vastly more than the price John Henry paid seven years later. But the New York Times Co. wasn’t selling — at least not yet. The following year, Ben Taylor, a former publisher of the Globe and a member of the family that had owned it from 1873 until selling it to the Times Co. 80 years later, told me in an interview for CommonWealth magazine that he might be interested in returning to ownership in some capacity if the Globe were put on the market. But he added that he thought such a development was unlikely. “I can’t imagine a scenario where that would be an opportunity,” he said, “but you never know, I guess. Stranger things have happened.”

Ben Taylor and his cousin Stephen Taylor, also a former Globe executive, became involved in a bid to buy the paper in 2009 when the Times Co. finally put the paper on the market. So did a Beverly Hills, California-based outfit known as Platinum Equity. With the Taylors thought to be undercapitalized and with Platinum having gutted the first newspaper it bought, the San Diego Union-Tribune, Globe employees were understandably nervous about their future. Although it was not a matter of public knowledge at the time, there was also a third possibility. After the Times Co. put up the Globe for sale, Brian McGrory, a popular columnist who was then serving a stint as the paper’s metro editor, decided to call around town to see if any public-spirited business executives might be interested. Among those he contacted was John Henry.

“I asked him at that time why he wouldn’t flip the paradigm,” McGrory told me. “It used to be that newspapers would own sports franchises. Why not have a sports franchise owner own a newspaper? Because without a healthy Boston Globe, which causes community discussion about a sports team — I made the argument, right or wrong; I have no idea if it was right — the value of a sports team might be diminished. And I did it because I thought he would be a very thoughtful, steady owner.”

Read the rest at GBH News.

The Globe, Jack Connors and Mike Barnicle

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On May 31, 2011

In Media

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.

And then there was one?

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On October 13, 2009

In Media

Venture capitalist John Ellis, a former Boston Globe columnist who’s been nosing around the Globe situation for months, posted an intriguing tidbit [update: but apparently wrong; see below] on Twitter a little while ago:

there’s a rumor about that Platinum Equity declined to make a “final” bid on the Boston Globe. I wonder if its true.

If Platinum is out of the picture, that would presumably leave the group put together by former Globe executive Stephen Taylor as the only remaining interested buyer. But do Taylor and company have enough capital to get the New York Times Co. to say “yes”?

I also wonder if this might pave the way for a comeback by Boston businessman Jack Connors, whose proposal to take the Globe non-profit was left by the side of the road a few months ago.

Wednesday morning update: Well, so much for that rumor. The Globe’s Beth Healey reports that both groups submitted bids for the Globe, and that a third group submitted a bid for the Worcester Telegram & Gazette.

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