Billionaire Henry’s Failing Boston Globe Sustainability, New CEO Leaves. Staff Moved to Safer Offices from Contaminated Industrial Site
Boston, MA: Boston Globe Media CEO Doug Franklin is stepping down a half year after being hired by sports entertainment billionaire John Henry.
Franklin cited differences with sports owner John Henry on “how to strategically achieve (the company’s) financial sustainability.”
Franklin replaced CEO Mike Sheehan who had a 2 year agreement with Henry. Sheehan was hired following the closure of The One Fund Boston, which Sheehan, then President of Hill Holiday advertising, and John Gallagher, President John Hancock Boston, registered.
John Henry bought the Boston Globe Dorchester, MA. seriously contaminated land and iconic newspaper industrial site in 2014 from the
New York Times Company. He sold assets, removed, downsized, and replaced the staff from the sick workplace and relocated newspaper operations to safer spaces for human existence.
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.
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 Timesin 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’spublisher, 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?