Terms of the deal were not disclosed. Halifax, based in Daytona Beach, Fla., is relatively new to the newspaper business. It owns 35 daily newspapers from Alabama to North Carolina, including the former New York Times Co. regional papers, which it acquired in 2012 for $143 million. The T&G is Halifax’s first property in the Northeast.
“The Telegram & Gazette is an essential part of Central Massachusetts, and Halifax recognizes that,” said Mike Sheehan, chief executive of The Boston Globe. “They understand the Worcester market and bring the passion and commitment needed to preserve the T&G’s traditions and build for the future.”
Boston Globe owner John Henry announced his intention to sell the Worcester newspaper in November, a month after acquiring both newspapers and their websites from The New York Times Co. Henry said at the time he was seeking a local buyer for the 148-year-old paper.
The T&G was valued at $7 million by the Times Co. when it was sold along with the Globe. Analysts have pegged the price at $7 million to $15 million, according to a report Wednesday by the T&G on the sale. Three businesses made formal offers on the property, according to a person involved in the deal who was not authorized to speak publicly. The Times Co. bought the T&G for $296 million in 2000.
You have reached the limit of 5 free articles in a month
Stay informed with unlimited access to Boston’s trusted news source.
- High-quality journalism from the region’s largest newsroom
- Convenient access across all of your devices
- Today’s Headlines daily newsletter
- Subscriber-only access to exclusive offers, events, contests, eBooks, and more
- Less than 25¢ a week