Looking back to 1999: New York Times buys Telegram & Gazette
EVENT: Thirteen years after the Telegram & Gazette, the largest daily newspaper in Central Massachusetts, was sold to the publisher of the San Francisco Chronicle, the T&G is sold again in October 1999 to the New York Times Co., for about $295 million.
RECAP: Just six years after Times Co. bought The Boston Globe, it expanded its reach in New England by adding the T&G which, at the time, had a daily print circulation of 107,000 and a payroll of 825.
FAST FORWARD: Ten years later, the Times came close to selling the T&G to a local group headed by Ralph Crowley Jr. of Polar Beverages and retired T&G editor Harry Whitin. But as the market value of the T&G and Globe continued to fall, it finally sold both media properties in 2013 to John Henry, principal owner of the Boston Red Sox. Henry said the T&G — which he got for a reported $7 million — didn't fit into his long-term plans and told the paper's staff he was looking for a local buyer. He didn't get one, and sold last month to Florida-based Halifax Media Group. One of its initial actions was the cutting of about 20 editorial personnel. n
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