Jun 27

Today’s Bids on Boston Globe May Be a Tenth of What The New York Times Paid

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The New York Times Co., which is accepting bids for the Boston Globe today, is likely to fetch a price that’s about a 10th of what it paid in 1993, a sign of the industry’s deterioration over the past two decades.

The bids are set to be in the range of $100 million, according to three people who asked not to be identified because the matter is private. The potential buyers include Rick Daniels, a former president of the Globe, and former Time Inc. CEO Jack Griffin, in partnership with cousins Steven and Ben Taylor, whose family once owned the newspaper, the people said.

The Times Co. put the Boston Globe up for sale in February and hired Evercore Partners to manage the process, part of an effort to focus on its flagship New York Times media brand. The deal will include the Worcester Telegram & Gazette and a growing printing business.

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