Globe president, in year-end message, says digital subs are approaching 110,000

A source just sent along this end-of-the-year message from Vinay Mehra, the president and chief financial officer of Boston Globe Media Partners. It follows publisher John Henry’s statement earlier this week that the Globe is now profitable and is likely to remain in the black next year as well.

The main takeaways here are that the Globe, having passed the crucial 100,000 mark for paid digital subscriptions several months ago, is now closing in on 110,000. Globe executives have said that if they can hit 200,000 then the paper may be able to achieve long-term sustainability. Also of interest: The Globe is taking part in a three-month exercise with Harvard Business School “to define our business strategy.”

What’s missing: Any mention of the Globe’s contentious negotiations with the Boston Newspaper Guild, including management’s decision to bring in what the Guild has described as a “union-busting” law firm. One hopes that Mehra and the Henrys understand that the people who produce what he describes as “the many successes our journalism racked up this year” should be treated fairly.

The full text of Mehra’s message follows.

Dear Colleagues,

As we head into the holiday season, on behalf of [managing partner] Linda [Henry] and myself, I want to take a moment to share with you a few highlights of what we have achieved this year as well as an outline what we hope to achieve in 2019.

Our success in 2018 was no accident. It was a tough year that required a lot of work and I am pleased to say our efforts began to pay off. We started, of course, with powerful journalism across all our brands — The Boston Globe, STAT and Boston.com. On top of that, we found areas of real growth, while we aggressively targeted savings across all facets of our business and carefully managed expenses to stay ahead of the structural declines we are all seeing in our industry.  For the first time in a long time, we are ending the year in black, and to remain there we must continue our vigilance in looking for efficiencies.

But financial results are just one measure of the many successes our journalism racked up this year. There are way too many to list here, so I’ll mention just a few:

  • Spotlight was a Pulitzer finalist for its groundbreaking series in December [2017]  on race issues in Boston that inspired a region-wide discussion that has no precedent
  • Our coverage of the State Police overtime fraud investigations, the Columbia gas explosions in the Merrimack Valley, the investigative pieces on Massachusetts secret courts and the TSA’s Quiet Skies program drove accountability and change
  • The stories in STAT about IBM-Watson’s troubled health business led to a major leadership change at the company

We also extended the reach of our journalism by expanding into new platforms:

  • The Aaron Hernandez Spotlight series in the Globe resulted in a podcast with over 4 million downloads, a trip to number 1 on the Apple charts, and considerable interest from Hollywood
  • Last Seen, a true crime podcast examining the most valuable and confounding art heist in history from the Isabella Stewart Gardner Museum, hit over 3.4 million downloads and was in the top 10 on iTunes
  • Season one of the Love Letters podcast launched earlier this year when Meredith took on the hardest question she gets: How do I get over it?  Leveraging its success, season two will launch in early 2019

As incomparably talented as our journalists are, they don’t do it alone. Peel back the curtain, and what’s revealed is you … our employees across all departments of BGMP [Boston Globe Media Partners]. Day in and day out, your coordinated efforts — leveraging your relationships, expertise, passion and creativity are what have made this institution a leader in an industry that is starting to find its footing.

For growth on the digital side to be sustainable, we must remain focused, bold, and daring, and in 2018, we had no shortages of examples:

  • We continued our digital growth, ending the year with close to 110,000 digital-only subscribers for the Boston Globe — more digital subscribers than almost any other major metropolitan news organization
  • We invested in a new digital content management system, Arc, and launched a new mobile app for the Boston Globe, another step in our digital transformation
  • STAT doubled down on coverage of life sciences, pharma and biotech, resulting in record revenue and subscriber growth
  • We launched a new section on cannabis dedicated to covering and facilitating conversations around the politics, business, use and impact of cannabis in the Northeast
  • Our events brought the community together to talk about important issues such as race, the future of work, the future of democracy, and the midterm elections

Impressive commercial results and remarkable engagement of our readers to our stories are not the only things that drive us. Being a leader in the news industry comes with responsibility. We take that role seriously and demonstrated it in August, when our editorial board led a coordinated effort that resulted in 450 newsrooms across the country joining us to defend the freedom of the press against harmful rhetoric labeling the press as “the enemy of the people.”

As important as it is to drive these conversations in the community, it’s important for us as an organization to reflect on how we can live up to what we shed a light on. One example was the Race Series, which prompted a degree of self-reflection.  Leadership on diversity and inclusion starts at the top, so we have made an intentional effort to ensure our executive team represents a broad range of backgrounds. We will continue to move through our practices in recruiting, talent assessment, and measuring the leadership of this organization against a few core guiding principles, one of which is related to creating an environment that nurtures inclusion, and compensation goals will be tied to this important measure.

It’s not lost on me that there are many questions about the future of our business and our strategy. This past month, a cross-functional team of more than 30 leaders across all disciplines of our organization met with me and a team from Harvard Business School to begin a 3-month exercise to define our business strategy. We all left very encouraged and I will have more to share as we move forward.

As we reflect on a transformative and eventful year, the reality is this: when the business had been experiencing double-digit declines we didn’t dig a hole and hide, we invested — in new business models, new technologies, new talent. We didn’t lose faith. We continued to produce quality journalism, launch new products, and provide opportunities to convene our community around important issues.

All of us know that people who choose to spend their lives in the news business are special, they’re unique, and they are undeniably passionate about their work.  This isn’t simply a job, it’s a mission — a mission motivated by our love of informing people. And that’s precisely what makes me so proud to work alongside each and every one of you.

We wish you and your loved ones a happy, restful and safe holiday and I look forward to seeing you in 2019.

Vinay

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Amid union strife, John Henry now says The Boston Globe is profitable

Republished at WGBHNews.org.

Here’s an unexpected development: The Boston Globe, which has been losing money more often than not for years, is now turning a profit, according to publisher and owner John Henry.

“The Globe may have turned the corner finally due to management, increasingly relevant journalism, continuing strategic investment and by becoming much more efficient in all areas,” Henry said Tuesday night in response to an email query. He added: “I don’t know how long it has been … since the Globe had a profitable year but we will this year and probably next as well. As our digital growth continues the sustainability of a vibrant Boston Globe is coming into view. It’s been a long time coming.”

What prompted my email was buzz coming out of the Globe newsroom that management had claimed the paper was running in the black. It struck me as unlikely, but Henry has now confirmed it, although he did not respond to my request for some actual numbers.

The good news comes at a moment when Henry and his management team have taken an aggressive stance in contract negotiations with the Boston Newspaper Guild, the union that represents the Globe’s editorial employees and many on the business side as well. The Guild recently issued a statement denouncing management for hiring the “union-busting” law firm Jones Day, described by the Columbia Journalism Review as “notorious for aggressive anti-union tactics that journalists and union leaders say have helped downgrade media union contracts and carve employee benefits to the bone.”

I asked Henry if he was concerned that hardball tactics with the union could result in a loss of goodwill with his employees and the public. As you’ll see below, he did not answer directly. But it doesn’t seem like a good look to crack down on the union at a time when its members’ sacrifices have helped Henry balance the books. That said, negotiations often get ugly. That doesn’t mean the talks can’t be resolved on terms both sides can live with.

Henry, a billionaire financier who is also the principal owner of the Red Sox, has long lamented the Globe’s declining fortunes and the dismal state of the newspaper industry in the five years since he bought the paper from the New York Times Co. When I interviewed Henry in early 2016 for my book “The Return of the Moguls,” he said he expected to lose money both that year and the following year. “You look at the Globe — we have about $300 million a year in income and we can’t make money,” he said. “The cost of making money is high.” (Earlier this year the Boston Business Journal estimated that revenues for 2018 would range from $225 million to $250 million.)

This past July, Henry told me in an email interview for WGBH News that the losses were continuing. “The Globe cannot ever seem to meet budgets — on either the revenue side or the expense side and I am not going to continue that,” he said. “This has always been about sustainability rather than sizable, endless, annual losses. That is frustrating and due to a combination of mismanagement and a tough industry.”

Since that time, management, headed by president and chief financial officer Vinay Mehra, has cut spending on both the news and business sides. It seems to have worked, although news coverage and customer service have taken a hit. Throughout the news business, of course, revenues continue to decline. But there is reason for some optimism with the Globe. Several months ago it passed the 100,000 mark for digital subscribers, an important milestone. Globe officials have said the paper could approach financial viability if they can reach 200,000. Needless to say, that’s a lofty goal.

The full text of Henry’s email follows.

The Globe may have turned the corner finally due to management, increasingly relevant journalism, continuing strategic investment and by becoming much more efficient in all areas.

There has also been a focus on getting costs and practices closer to industry standards of major newspapers. This is something the Globe was never able to do. And this is what I believe management is continuing to do in its negotiations with the guild presently.

We want the strongest possible newsroom in the future. Much as sports teams are dependent on the talent of those who take the field every day, the Globe depends on a talented newsroom and editorial page that hopefully has the tools they need to be successful. So ultimately I believe management and the guild will find common ground in a very challenging environment for newspapers where your very survival is dependent on doing the right things day-to-day.

Both have the same overriding objectives — to provide our community with vital, serious journalism.

I don’t know how long it has been, Dan, since the Globe had a profitable year but we will this year and probably next as well. As our digital growth continues the sustainability of a vibrant Boston Globe is coming into view. It’s been a long time coming.

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Stat is up and Design New England is out: A message from the Globe’s president

A source sent this to me a little while ago. It’s a message from Vinay Mehra, the president and chief financial officer of Boston Globe Media. Not a lot of news here. For my money, the most interesting revelations are that Stat, the company’s health and life-sciences vertical, continues to grow, and that Design New England magazine has been discontinued. (Confession: I’m not sure I’ve ever seen an issue.)

For more on the Arc content-management system and the latest on the Globe’s digital subscriptions, see the email interview I did with publisher John Henry last week for WGBH News.

The full text of Mehra’s message follows.

Team,

Happy summer! As we go into the second half of the year, the Senior Leadership Team and I would like to share with you where things stand midpoint of this year. Here are some highlights:

  • The newsroom continues to hit it out of the park. The Spotlight Team was a finalist for the Pulitzer Prize for a series on race that spurred an unprecedented conversation in this region. Our recent TSA piece has made waves nationally. Day in, day out, there is uniquely compelling journalism on our site and print pages, including the launch of the latest reader advocacy initiative, the Help Desk.
  • We continue to invest in the future of the Globe. Our latest investment in our digital future is ARC, our new publishing platform that will result in the redesign of our Globe.com website, and the launch of an ioS and Android Boston Globe app in August. There has been great collaborative work across the company to get to this point, and I am grateful for everyone’s help.
  • We have been disciplined on reducing costs, from ensuring we establish a robust contract management process to more tightly managing expenses, and continue to push ourselves on creating new revenue opportunities and exploring new ways to meet readers where they are, leveraged by our entrepreneurial spirit.
  • While advertising sales continues to experience industry disruption, we are excited about the potential of BG BrandLabs and sponsored content — we have completed 21 customer campaigns since the beginning of the year and have 14 more in our pipeline. Leading companies across the region appreciate and seek out partnerships with us and we will continue to build on that momentum.
  • Subscription revenues are on budget with our digital subscriber base over 94,000, putting us #1 among U.S. major metros in terms of total digital subscription revenue. With Pete [Doucette]’s departure, I have made the decision to conduct a search for a new head of consumer revenues, and I am pleased with the initial results of the search and the caliber of candidates who are interested in the role.
  • After months of negotiation, we have an agreement with the Pressman, Mailers and the Drivers unions. We appreciated the partnership with the bargaining committees and these new contracts give us the flexibility we need to continue to meet the needs of the market and industry.
  • We made the difficult but necessary decision to discontinue publishing Design New England magazine in order to redirect resources into our growth.  This was hard news for our colleagues affected by the change, but we were transparent with the decision making process and explored all options before coming to this decision.
  • STAT, our bold life sciences initiative, continues to see impressive growth – year over year growth in advertising by 59% and growth in subscribers by 308%.

The constant change we are experiencing is what it feels like to be in transformation, and frankly, it will continue. While it is no doubt challenging to navigate in a business as dynamic as ours, I can tell you that we are not alone in this challenge and I believe that our organization will be positioned for success. Since starting at the Globe, I have spent a lot of time out in the field speaking with CEOs in the greater Boston area, familiarizing myself with the unique perspectives within the region and forging relationships that will ultimately allow our organization to help tell the incredible stories of growth, disruption and innovation in our backyard. The good (and bad) news is that I hear the exact same set of challenges in all of these discussions. Everyone, in every industry, is experiencing the very real ups and downs of transformation. The key for us is to stay focused on why we do the work we do, because what I also hear in these conversations is that we, the Globe, are critical to this city.

Success will require that all of us — and particularly the Senior Leadership Team — work across boundaries as one Boston Globe and in harmony with our partners. In the coming month, the Senior Leadership Team and I will be engaging in a strategic planning process to determine our plans for long-term growth.  Expect to hear more from us after some of that work is done.

Finally, I truly believe that each of us must find meaning in our work. The best work happens when you know that it’s not just work, but something that will inform and improve other people’s lives. This is the opportunity that drives each of us at this company.

Thank you for your ongoing support and hard work. I recognize we wouldn’t be where we are without the contributions made by each and every one of you.

Vinay

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On top of everything else, the Globe announces another round of downsizing

As if there weren’t enough turmoil at The Boston Globe, president Vinay Mehra and editor Brian McGrory earlier today announced another round of budget cuts. Mehra and McGrory say they hope to find the savings they need through buyouts, but they won’t rule out layoffs. No word on how many people they are hoping will exit the building. The memos were obtained from a newsroom source.

In addition, the last vestiges of the Sunday zoned editions for local news are being all but eliminated, as Globe North, Globe South and Globe West are being combined into a Sunday section to be called Globe Local.

Both Mehra and McGrory claim the effect on the Globe’s journalism will be minimal. Obviously, though, this is a perilous route to take at a time when the paper is trying to offset an industry-wide decline in ad revenues with high-priced digital subscriptions. McGrory has previously said the Globe is on track to hit 100,000 digital subscriptions by the end of June, and that the paper may approach sustainability if that number can be doubled during the next few years. It’s encouraging that readers are willing to pay — but it remains to be seen if they will pay more for less.

“As to what it all means — well, a lot,” McGrory writes. “It means there was an unanticipated revenue shortfall heading toward the last half of the year and we need to stem it quickly. It means that this business hasn’t gotten any easier…. This does not mean there is a hiring freeze. This does not signal Draconian cuts. It gives us the most options, in the most humane way possible. We are absolutely hiring for key jobs, with a couple of offers out there as I write.”

What follows is the top of Mehra’s memo, minus a detailed explanation of how employees can apply for the buyout.

Every day The Boston Globe produces the best news report in the region and one of the best regional reports in the country. But as the news business changes, and more subscribers seek to read us on digital, our cost structure remains out of line with the realities of the industry.

While we have built a large and growing digital business, we still have an organization built on the profit margins and specific needs of the print era, where the economics continue to be challenging as advertising has shrunk across the sector. We’ve done much to change; we still have more to do. We can’t afford to slow down in our efforts to build The Boston Globe of the future, one in which subscribers play an increasingly central role in our revenue model.

So we are now announcing a buyout primarily designed for people in our newsroom, advertising, and marketing departments. We will use any savings to address the current economic realities and invest in our core strength — great journalism, with an eye toward our digital offerings.

We are optimistic that the buyout, the first in two years, will result in the savings we need to create a sustainable Globe. If we do not get enough takers, we’ll have to consider all other options, including layoffs.

We know the last few years have been a time of dramatic change, and that it has placed tremendous pressure on everyone in the organization. And we know that this latest buyout — like previous ones — will mean saying goodbye to cherished colleagues. But this is a good moment to take stock of how much we have already accomplished in growing our digital audience and telling stories in different ways. We must take this next step – so we can invest in our growth and enhance our stature as a news organization.

And here is the full text of McGrory’s memo.

No doubt that many of you have questions about the buyout, what it means generally, what it specifically means to those interested. I’d like to be helpful, and Jen [managing editor Jennifer Peter] can be as well.

Briefly, I’ll say that we haven’t done one of these in a couple of years, and I would advise against going into it assuming there will be another any time soon. This one, as you’ve likely noted, will differ in a few key ways from past practice. First, people will get two weeks for every year of service, but the total package will be capped at six months. Second, the company is asking that you declare your intentions within the first two weeks of the offer. Third, you won’t get personalized packages sent to your homes; rather, if you’re interested, you’re encouraged to make an appointment with human resources straightaway for a direct discussion.

As to what it all means — well, a lot. It means there was an unanticipated revenue shortfall heading toward the last half of the year and we need to stem it quickly. It means that this business hasn’t gotten any easier. It means that the company has agreed to take the most flexible approach to the newsroom and a couple of other departments. This does not mean there is a hiring freeze. This does not signal Draconian cuts. It gives us the most options, in the most humane way possible. We are absolutely hiring for key jobs, with a couple of offers out there as I write. The success of this organization is going to rise in no small part on the success of this room.

Will it lead to newsroom layoffs? I’m optimistic that it won’t, but can’t make guarantees. I don’t believe it would be a significant number under any circumstance. We need to see who puts in for it. I’ll be as open as possible about the need and our plans.

Cuts are being made elsewhere in the newsroom — and across the organization. We’re making some page reductions that we hope will have no major impact on our readers. These trims will give us cost savings from materials and freelance spending, and free up editing resources that can be devoted to other places. One change worth noting is to our regional editions — Globe North, Globe South, and Globe West. Our editors do great work putting out high quality sections week after week, but revenue-wise, they are on the verge of going under water. We are planning to create one edition that will run across all zones, called Globe Local, and zone the advertising, so that businesses still have a lower cost, more targeted option. In other words, if you’re a bank on the South Shore, you can advertise in the Globe Local edition that only goes to the South Shore, but the journalism in it will come from all over.

Again, feel free to come see me or Jen, individually, in small groups, or however you want. I am truly hopeful that this buyout will work well for a good number of people, and that the faster process will allow us to not lose sight of our vital work.

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Globe executives address sexual-harassment accusation against Brian McGrory

Two top Boston Globe executives, managing director Linda Pizzuti Henry and president Vinay Mehra, sent this out to the staff earlier this afternoon. A source passed it on a little while ago. As you’ll see, the message concerns a charge by Hilary Sargent, a former top editor at Boston.com, that she was sexually harassed by Globe editor Brian McGrory in a text message, which she posted on Twitter this past Monday.

Emily Rooney, Adam Reilly and I discussed the situation Tuesday evening on “Greater Boston.”

The full text of Henry and Mehra’s message (except for an internal link for reporting employee concerns) follows.

As you may be aware, a former employee has publicly suggested that there was an inappropriate text exchange between Brian McGrory and her. As we discussed last fall and at the last newsroom Town Hall, we are deeply committed to creating a safe, comfortable, welcoming working environment for all employees. We have multiple avenues for employees to use to escalate concerns and will work to expeditiously address any issues raised going forward or looking back.

This issue is no exception. When we first learned about the social media discussion mentioned above, we began investigating to gather as much relevant information as we could. We discussed the issue with Brian in an attempt to understand both the nature of any exchanges between the two parties and also whether or not these exchanges occurred during her employment. We also reached out to Ms. Sargent, the former employee, to ascertain the timing and context of the text in question. At this time it is still unclear when these exchanges took place.

We expect to have resolution on this matter soon but did not want to wait another day to connect with you directly. We want to reiterate how important your work is, how important your contributions are to us and how seriously we take assertions of improper conduct.

If there is anything you would like to discuss related to this matter or any others, please do not hesitate to reach out to us or any member of the management or human resources team….

Thank you.

Linda & Vinay

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Digital First to move Herald printing to GateHouse’s Providence Journal

When printing the Herald was not a problem. 1881 photo via Wikimedia Commons.

A key part of The Boston Globe’s strategy to reposition itself as a sustainable business has been to establish its printing operation as a regional hub for a variety of publications, including The New York Times and USA Today. That strategy has come under question since last summer, when its new Taunton printing plant got off to an exceedingly rocky start.

Now the Globe has suffered a significant blow, as Digital First Media, the incoming owner of the Boston Herald, will take the tabloid’s printing business to the Providence Journal, owned by GateHouse Media — ironically, one of the losers in the recent bidding to buy the Herald out of bankruptcy. Don Seiffert of the Boston Business Journal has the details.

The Globe’s business relationship with the Herald has been strained last September, when then-Herald owner Pat Purcell published a hotly worded statement in his paper blaming the Globe for the Herald’s printing woes. “We talk with the Globe on a regular basis but unfortunately the remedies they put forth to solve the production problems have failed miserably,” the Herald said at that time.

Although the Globe’s printing woes have by most accounts eased considerably (even if they have not been entirely solved), Digital First clearly wasn’t going to stick around. The Providence facility is well-regarded, and it was widely believed that GateHouse would move the Herald’s printing there if it won the bidding. Ironically, GateHouse will end up making money from the Herald even though its bid fell short. In a statement to the BBJ, Globe president Vinay Mehra said:

At present, we are unable to offer a competitive bid for that business. What this move affords us is the opportunity to continue to bring our production costs and efficiencies in line, take advantage of added capabilities for The Globe product, and deliver to our readers the best quality news product in the market.

I’m hearing reports from inside the Herald that the switch will require deadlines so early that evening sports stories may not make the print edition. Mehra, meanwhile, sounds like he’s just as happy to be rid of the Herald — something that would surely not be the case if everything was running smoothly.

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Boston Globe Media president Vinay Mehra weighs in on sexual harassment

At a moment when large swaths of the entertainment business and news media are melting down as long-suppressed tales of sexual harassment are coming out into the open, Boston Globe Media president and chief financial officer Vinay Mehra has sent a memo to the staff on how the Globe would handle such issues. Among other things, Mehra said that employees will undergo mandatory training, and that anyone who has been subjected to harassment “should not hesitate to speak confidentially and without fear of retaliation with whomever you feel comfortable.”

The Globe recently published a couple of important articles on sexual harassment at the Statehouse (by columnist Yvonne Abraham) and in the restaurant business (by food critic Devra First). No institution is immune, of course, and it would be interesting to see how the Globe — or any news organization — would report on itself if such accusations were leveled. NPR has certainly had to dive deeply into this with the exposure and subsequent firing of top news executive Michael Oreskes. NPR chief executive Jarl Mohn, who has come under criticism for his handling of the Oreskes matter, said Tuesday that he will take a health-related leave of absence.

A source sent a copy of Mehra’s memo to me a short time ago. Here is the full text.

Dear Staff,

I’m reaching out to address the many conversations that are happening in and outside of Boston Globe Media about sexual harassment and overall conduct in the workplace, particularly in the media industry.

We are a company that deeply values equality, diversity, and individuality. We know that we thrive individually and collectively when everyone feels safe and respected. We do not tolerate harassment of any kind, and we have a set of policies and processes for reporting and responding to misconduct, which I’d like to lay out here.

We will look into all allegations of harassment and related conduct, and will act on them accordingly. Please find attached, the company’s sexual harassment policy that has been in effect since ownership under the New York Times. We have made updates to make our policy more comprehensive and have identified specific individuals within HR to address issues.

You should not hesitate to speak confidentially and without fear of retaliation with whomever you feel comfortable — your manager, HR, Legal, or with any team leader or executive in this company.  If you experience misconduct of any kind, we want to give you every opportunity to be heard through a vehicle of your choice so that we can attempt to address your concerns promptly and confidentially.

We also hope you’ll take seriously the workplace conduct trainings we will be conducting online and in person over the next few months. Employees will receive an invitation from HR within the next month to a mandatory online training.

We are a stronger and more inclusive company when these issues are raised and acted on. Thank you as always for your hard work and your commitment to our organization.

Vinay

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Doug Franklin is out as CEO of Boston Globe Media; Vinay Mehra named president

Also published at WGBH News.

Update II: The Globe’s own story cites problems at the Taunton printing plant, so it looks like my speculation may have been on target: “But his [Franklin’s] tenure also saw continued press problems at the newspaper’s new Taunton printing facility, which has been a vexing and expensive headache for a media organization fighting to become financially self-sufficient in an era of declining print advertising. The printing problems pre-date Franklin, who started on Jan. 1.” Pre-date? It was only recently that the Globe began using the Taunton facility exclusively.

Updating: Vinay Mehra, the chief financial officer of Politico and a former executive at WGBH, will become the president and chief financial officer of Boston Globe Media, according to a memo to the staff from publisher and owner John Henry. Henry also says that he and his wife, managing partner Linda Pizzuti Henry, plan to take a more active role. No word on whether a new CEO will be named. The full text:

You’ve seen Doug’s note that he plans to leave the Globe. First, I’m very grateful for Doug’s hard work on behalf of this organization at an especially complex and sensitive time — as we moved from our decades-long home in Dorchester to Exchange Place and Taunton. These are not easy jobs in this industry, and Doug did his with passion, impact, and commitment. We wish Doug well in what will undoubtedly be successful endeavors in the future.

Second, effective immediately, Vinay Mehra will become the president and chief financial officer of the Globe. Vinay has distinguished himself at every stop along his career, most recently at Politico, where he was an active CFO with a strong grasp of the entire business and a commitment to a journalism enterprise supported by novel revenue streams. His prior work at WGBH gave him important insights into the Boston region, where he has always lived while commuting to Washington, and an understanding of the Globe’s vital role in New England.

Third, I will be a more active publisher and Linda will take on more responsibility as we push for financial sustainability in an environment that is extraordinarily challenging for news organizations dedicated to communities where facts and context matter.

This is a great and important news organization, one that is positioned for many more decades of success.

Best,
John

Doug Franklin (via LinkedIn)

Doug we hardly knew ye. Last December, Boston Globe Media named veteran newspaper executive Doug Franklin as chief executive officer to replace Mike Sheehan, who was leaving after three years in charge. Now Franklin is leaving, citing “differences” with owner John Henry over “how to strategically achieve our financial sustainability.”

At this early stage I have no idea what went wrong. I will point out that the Globe has been sending out frequent emails apologizing for late delivery of the print edition since shifting from its old Morrissey Boulevard headquarters to a new plant in Taunton — but I can’t say I know whether that has anything to do with Franklin’s departure.

Here is Franklin’s memo to the staff, two copies of which arrived in my inbox from my sources within the past few minutes.

Globe Team,

You are part of a very special institution in New England, and everyone here should be honored to serve our readers, advertisers, and broader community through our journalism and business offerings. While John Henry and I share similar passion and vision for the Globe, we have our differences how to strategically achieve our financial sustainability. With disappointment, I am resigning from the Globe, effective immediately, and will not be part of your work shaping the Globe’s future.

There are many great things about the Globe and equally many challenges in the industry. Our business will continue to reshape itself, with some areas getting smaller and more efficient while we invest in new technology and products for our future.

I hope that over the past six months I have provided some clarity, honesty and realistic optimism of what you are capable of accomplishing in the coming years. I have truly appreciated the support and our partnership during the brief period in which I was privileged in getting to know you and your work.

I took on this role because I love the newspaper industry, cherish our First Amendment obligations, and value the role of the Globe in the Boston region. It was a big challenge, but I also believed it was a good fit, given my record of successfully turning around newspapers. The Globe is one of the best brands, best newsrooms and most loyal reader subscription businesses in the country. Hard work is ahead for all of you and I know you will successfully navigate the challenges. I wish you the best and thank you.

Doug Franklin
CEO

Correction: This post has been updated to clarify Vinay Mehra’s new position at the Globe.

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