John Henry paid $38.4 million for The Boston Globe's headquarters on Morrissey Boulevard as part of the $70 million deal last month to acquire the New England Media Group from The New York Times, according to newly filed records at the Suffolk County Registry of Deeds.
"That's interesting as a metric because as I talk to newspaper brokers over the years what they've said is on average, the price of newspaper properties is half-covered by real estate," said analyst Ken Doctor of Newsonomics. "That would fit that principle really well. The brand, the good will, the cash flow ... amounts to only half the sales price, the other half is the hard real estate."
Experts have speculated the sprawling Dorchester property — with its proximity to the Southeast Expressway and UMass Boston — could be a hot commercial property if redeveloped, even though parts of it are contaminated.
Henry also paid $7.8 million for the property containing the Worcester Telegram & Gazette's printing presses in Millbury and $277,400 for the Clinton office of Coulter Press, which publishes The Item and The Banner, according to Worcester County Registry of Deeds documents.
Secretary of State William Galvin officially certified Henry's corporation papers for the newly created The Boston Globe Newspaper Co. LLC Thursday night, according to state records.
Henry and Globe controller Karen Bray are the only names listed in the corporation filings — Henry organized the Globe LLC in Delaware. Henry declined to comment through a spokesman yesterday.
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