The Associated Press
BOSTON (AP) - The Boston Globe is reporting that two Boston groups have submitted preliminary bids to buy the newspaper.
The Globe reported Friday that the bids were submitted Thursday, meeting a deadline set by its owner, The New York Times Co.
The Globe citing unnamed people with knowledge of the offers.
The report says one of the offers comes from a group led by Boston Celtics co-owner Stephen Pagliuca and former advertising mogul Jack Connors. The other is headed by Stephen Taylor, a former Globe executive and member of the family that sold the Globe to the Times for $1.1 billion in 1993.
The Globe says the group led by Pagliuca and Connors suggests a "civic approach" that calls for a nonprofit foundation to help fund and run the Globe.