Billionaire from Worcester May Bid for ‘Telegram & Gazette’

By: E&P Staff

A billionaire investor and real estate tycoon who hails from Worcester, Mass., is interested in acquiring that city’s Telegram & Gazette from The New York Times Co.

Worth about $1.4 billion, according to Forbes magazine, Jeff Greene would be bidding against a group led by local a businessman and recently retired T&G editor Harry T. Whitin.

Bret Berlin, president of Greene’s Coral Gables-based Florida Sunshine Investments, told the Telegram & Gazette, “We are evaluating a lot of business opportunities and that is among them,” Shaun Sutner reported yesterday. Berlin wouldn’t say if his company had formally bid for the newspaper.

A Times spokeswoman declined to comment. The Times Co. is expected to decide before year’s end on whether it will sell the T&G.

Florida Sunshine Investments owns no media properties but has been acquiring diverse businesses.

The 54-year-old Greene — whose best man was boxer Mike Tyson and whose yearlong houseguest was another felon, Hollywood Madam Heidi Fleiss — became a billionaire from his trades in credit-default swaps when the housing market peaked, in 2006. Until then, he’d been worth mere hundreds of millions. He made his first million in real estate while a Harvard MBA student.

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