by Dan Primack
Pags Looking for the Hometown Trifecta?
Posted on: June 12, 2009 by Dan Primack1 Comment »
Bain Capital’s Steve Pagliuca has emerged as a potential bidder for The Boston Globe, which is being shopped by The New York Times Co.
peHUB has learned that Bain Capital itself is not involved, as Pagliuca is said to view the opportunity more as a civic rescue than as a profit-driven investment.
“A lot of folks [in Boston] want to see the Globe saved, because of what it means to the community,” says a source familiar with the situation. “But this is not the type of deal that would work within a private equity model… the financial objectives probably would only be to return the paper to cash-flow breakeven.”
News of Pagliuca’s interest was first reported by the Globe’s website, which also identified advertising executive Jack Connors and former Globe executive Stephen Taylor as likely suitors (we hear Taylor’s interest and ability to actually buy the paper are overstated).
