Preliminary bids placed for Boston Globe

BOSTON Citing unnamed people with knowledge of the offers, the Globe reported Friday that the bids were submitted Thursday, meeting a deadline set by its owner, The New York Times Co.

According to the Globe, 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 said the group led by Pagliuca and Connors suggests a "civic approach" that calls for a nonprofit foundation to help fund and run the Globe. The proposed economic model would aim to support the newspaper's journalism and undercut pressure to post large profits.

The Globe lost $50 million in 2008, and the Times Co. has said it was on track to lose $85 million this year before Globe workers agreed to $20 million in annual cost concessions.

Times spokeswoman Catherine Mathis declined to comment on Friday's report. Pagliuca did not immediately return phone messages seeking comment, nor was a message left at a number listed in Taylor's name.

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