Red Sox to Buy Boston Globe

There’s something to be said for regional loyalty. John Henry, who already owns the Boston Red Sox, has now entered into an agreement to buy the city’s newspaper, the Boston Globe said Saturday. The paper has been on the market since February. It was put up for sale by The New York Times Company, which bought it in 1993 for $1.1 billion. So what’s the current going price for a Boston newspaper? Roughly 70 million dollars—just seven percent or its worth two decades ago. The all-cash sale is expected to close within 30 to 60 days.