Thursday, September 20, 2018
Business

Former Tampa Tribune owner offers $5.75M for Boston Herald

TAMPA — Revolution Capital Group, former owner of the Tampa Tribune, wants to buy the Boston Herald. The Tampa-based company entered a bid this week to buy the Massachusetts newspaper’s operational assets for $5.75 million, a Herald report said Tuesday. The Herald filed for Chapter 11 bankruptcy in December.

Its bid — which consists of $3 million in cash, a promise of $750,000 for paid time off for employees coming aboard and $2 million in severance — competes with GateHouse Media’s December bid of $5 million. Both bids will retain 175 of the Herald’s 240 employees.

It isn’t the first time Revolution Capital has expressed interest in the Herald. The firm tried to buy the paper in 2013. Robert Loring, Revolution Capital founder, has roots in the Boston area and interned on the Herald’s sports desk.

Revolution Capital sold the Tribune to the Tampa Bay Times in 2016.

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