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2 groups submit offers to buy Globe

By Beth Healy
Globe Staff / October 14, 2009

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The New York Times Co. has received offers to buy The Boston Globe from both finalist bidders - Platinum Equity, a California investment firm, and a group led by Stephen Taylor - according to a person briefed on the bids.

Taylor is a member of the family that sold the Globe to the Times Co. in 1993 for $1.1 billion.

It could not be learned whether the offers had changed from preliminary bids of about $35 million plus the assumption of $59 million in pension liabilities.

The offers included the purchase of the Worcester Telegram & Gazette, which the Times Co. also is considering selling.

A third bid was submitted for just the Worcester newspaper by a group of businessmen led by Ralph D. Crowley Jr., chief executive of Polar Beverages Co., and Harry T. Whitin, the former editor of the T&G. The Times Co. board is holding a regularly scheduled meeting today.