Globe owner John Henry: A man of few words?

By Christopher B. Daly

Former commodities trader and current pro-sports franchise owner John Henry has also owned the Boston Globe newspaper since last summer, when he bought it for a mere $70 million. Since then, he has said little about his plans, his political views, or his philosophy of journalism. That’s his prerogative, of course, but all the readers of the Globe around New England and beyond, may start to tire of his taciturn approach.

Boston-Globe-and-Henry

 

Last October, Henry published a 3,000-word op ed in his own newspaper under the headline “Why I Bought the Globe.” Among other high-minded points he made was this passage:

 

This much is clear: The overriding mission of The Boston Globe will be to ensure that its readers are getting news they can trust. The Globe will place its emphasis on hard-hitting, investigative accountability that readers can rely on. Not only will the Globe seek to hold people and institutions accountable for their actions, we will hold ourselves accountable for fairness, balance, and fact-checking.

Today, reliable information has never been more valuable. A newspaper needs to provide the breadth of perspective and diligent analysis that gets to the heart of what is going on in our world. The Globe will never be the prisoner of any ideology or political agenda.

Our enterprise reporting will shed new light on important issues of the day, with intellectual honesty and discipline. We will provide our readers with the assurance that if they read the Globe, they will know that time, effort, and thought were put into each and every report.

In this way, Henry sounds like many other American publishers who have issued similar declarations upon taking over newspapers: political independence, a commitment to service, a sense of public trust, etc. His statement was similar in spirit and tone to that of Adolph Ochs when he took over the New York Times in 1896. Here’s the heart of Ochs’ declaration:

It will be my earnest aim that The New-York Times give the news, all the news, in concise and attractive form, in language that is parliamentary in good society, and give it as early, if not earlier, than it can be learned through any other reliable medium; to give the news impartially, without fear or favor, regardless of party, sect, or interests involved; to make of the columns of The New-York Times a forum for the consideration of all questions of public importance, and to that end to invite intelligent discussion from all shades of opinion.

Since his op-ed last fall, Henry has said little, other than a speech to the Greater Boston Chamber of Commerce last month. He has removed the Globe’s publisher, Chris Mayer, and given himself that job. Now comes a bit more insight, in an article from Boston magazine, written by senior editor Jason Schwartz. In the piece, Schwartz reveals that Henry would not grant him an interview, but “instead agreed to exchange emails” — without saying how many. The piece includes interviews from other key players (including Globe editor Brian McGrory) but adds little to our understanding of Henry and his intentions.

One reveal: Henry confirmed that he plans to sell most of the Globe’s property in Dorchester and move the newsroom into a prominent place closer to downtown — a good idea that I have thought the Globe should have done years ago. The sale of all that land should reap at least $70 million, which would mean that Henry got the newspaper as such for free.

Still, questions persist. Here are some I have:

–How can the Globe return to profitability?

–How long will the Globe continue in print?

–When you start to make money from the Globe, what will you do with it?

–Is it important to even try maintaining a separation between the paper’s editorial page and its news pages?

–If you have money to invest in the Globe, what are your top priorities for expanded coverage?

–Is there a comparable news operation anywhere in the world that you admire?

–If you had to choose between watching the Red Sox in the World Series or the Liverpool Football Club in a championship game, which would it be?

BONUS: My estimable colleague Dan Kennedy has written about this same topic today, including a warning about the possible return of Mike Barnicle. Well worth a read.

 

 

 

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3 Comments

Filed under Boston, Journalism, journalism history, media, publishing

3 responses to “Globe owner John Henry: A man of few words?

  1. David

    How does selling the current property in Dorchester for $70 million to move to a more prominent downtown location yield a profit of $70 million unless he acquires the “more prominent” location for free?

    If, after buying the Globe, Henry had been outspoken about his political beliefs, would not the alarm have been sounded in media quarters that the Globe would lose its independence?

    • profdaly

      Well, here’s one way: you sell the Dorchester property (except for the printing plant, because you still need that), then you shop around in, say Back Bay, and rent a much smaller space (because your shrinking reporting/editing staff needs much less room than it once did). Of course, the rent’s not free, but you could come out a lot better off.

      • David

        Obviously, that’s right–but labeling all the sale proceeds as profit without accounting for relocation and new purchase expense is wrong. Better off, no doubt; a lot better off–very good chance; $70 million better off, no way–especially since Back Bay is more expensive. And if the Dorchester property has been used for printing, a truck depot, etc, the environmental cleanup costs will be substantial.

        Of course, if he can find a building which thinks the Globe is a prestige tenant, he might get an undermarket lease. And the ultimate profit/loss accounting will be highly dependent on what is on the books regarding the value of what is to be sold or written off during the relocation.

        In the meantime, there is probably an interesting comparative analysis waiting to be made of how the Times is covering the Thompson BBC inquiry and how the Journal covers the hacking scandal.

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