The Associated Press

3 Say They Outbid Winning Offer For Boston Globe

BOSTON — Three bidders who fell short in their attempts to purchase The Boston Globe say they offered more than Boston Red Sox owner John Henry’s winning $70 million bid.

Springfield television station owner John Gormally, West Coast investment executive Robert Loring and U-T San Diego chief executive John Lynch all say their groups’ bids bested Henry’s.

Lynch wonders how shareholders of the seller, The New York Times Company, would react after learning a lower offer was accepted.

He and Gormally are also criticizing the bidding process. Gormally says he was kept in the dark for a week after the bid deadline until learning Henry was chosen via email.

A Times Company spokeswoman says Henry’s bid was selected after a “full and active sales process” and Henry was the best choice for shareholders.

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  • TomK_in_Boston

    Thank you John Henry and thank you Times for taking a lower bid! Here’s Wikipedia on U-T San Diego:

    “In November 2011, Platinum Equity sold the paper to MLIM Holdings, a company led by Doug Manchester, a San Diego real estate investor and “an outspoken supporter of conservative causes.”

    It wd be the end of the Globe to be owned by “private equity” vultures that are interested in nothing but sucking the wealth out of the company. A “west coast investment executive” doesn’t sound any better. These financial con artists are a cancer on the economy.

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