By: E&P Staff Two parties have re-emerged to express interest in The Boston Globe, sources close to the process told the paper.
Reportedly Stephen Pagliuca of Bain Capital and Jack Connors, a former advertising executive, have put in a bid for the Globe. Stephen Taylor, whose family sold The New York Times Co. the Globe in 1993 for $1.1 billion, also submitted a proposal.
The Globe's Beth Healy wrote that potential buyers had to pitch plans for the property yesterday.
Pagliuca and Connors put forth an idea that involved a nonprofit foundation model, an unnamed source told Healy.
The New York Times Co. retained Goldman Sachs to assist with the sale and the New York Times did not comment to the Globe.
According to the paper, The New York Times will review the proposals and make a decision for the next round which could include on site visits.
Meanwhile, the Globe said that Mortimer Zuckerman, the owner of New York's Daily News, approached Goldman Sachs for information. Zuckerman started his business in Boston real estate and some speculate he could be interested in the Globe for the land.
On an earnings call in July, New York Times executives declined to talk about the possible sale of its New England properties.
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