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Welch reportedly interested in Boston Globe

Discussion in 'Political Discussion' started by Patters, Oct 25, 2006.

  1. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    http://www.marketwatch.com/News/Sto...C9C-3AA32E263CEB}&siteid=myyahoo&dist=myyahoo

    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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