Murdoch's News Corp. Sells Boston Globe To Its Publisher
Seattle Times Staff: Seattle Times News Services
BOSTON - Rupert Murdoch's News Corp. said yesterday it is selling the Boston Herald to Patrick Purcell, the newspaper's present publisher, for an undisclosed price.
No value for the deal was divulged, but industry sources estimated the price at between $10 million and $20 million.
Purcell, 46, is also president of Murdoch's News America Publishing Inc. and publisher of the New York Post.
"I have very mixed emotions about the decision to sell the Boston Herald," Murdoch said in a statement. "I also regret losing Pat Purcell, a valuable executive and a good friend who has been with the company since 1980."
Copyright (c) 1994 Seattle Times Company, All Rights Reserved.