Welch reportedly interested in Boston Globe
CHICAGO (MarketWatch) -- Former General Electric Chief Executive Jack Welch is said to be interested in acquiring the financially troubled Boston Globe newspaper from New York Times Co., according to a published report Wednesday, amid ongoing turmoil in the newspaper industry.
Welch and advertising executive Jack Connors are exploring a possible bid, The Boston Globe reported, citing unnamed executives who are participating in the discussions.
Welch and Connors have hired J.P. Morgan Chase & Co. to help it evaluate the potential deal, and the investment firm values The Globe at $550 million to $600 million, the newspaper reported.
I don't know Welch's politics, but he's a hero of the investor class and he is certainly his own man. I think it's 60 Minutes that ran a segment on him a year or two ago, and he came across as very colorful and independent.
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