• by Val Brickates Kennedy , February 19, 2014

Boston Globe owner and publisher John Henry is looking to sell the newspaper's sprawling Dorchester headquarters and to invest the cash in new digital projects, according to an interview published in Boston Magazine's March issue. 

Henry's plans shouldn't come as much of a surprise to news industry watchers. Henry, who also owns the Boston Red Sox, bought the Globe and assets such as Boston.com from The New York Times Co. in early 2013 for only $70 million (the Times paid roughly $1 BILLION for it back in 1993--OUCH.) While some wondered whether the cash-strapped Globe was even worth $70 million, real estate folks were quick to point out that the Globe's 16-acre complex could fetch at least that amount.

If a sale goes through, the Globe would move operations to a 'smaller, more efficient and modern facility in the heart of the city," according to Boston Magazine. 

And what would Henry do with the cash?

Invest in digital, according to reports. The Globe is getting ready to launch a tech-focused site, tentatively called BetaBoston, that will be separate from the Globe and its sibling, Boston.com. And BetaBoston could be just one of several new sites--a news site aimed at the world's English-speaking Catholic population is also in the works. Sites focused on other areas where Boston has a strong presence--such as education and healthcare-- could also be on the horizon. 

The hope, according to Boston Magazine, is to grow a digital network that will attract not just more readers but more advertisers. 

In other words, John Henry is in search of the news industry's Holy Grail, just like every other publisher in America. But given his track record in business and baseball, he might just be able to pull it off.