Boston Globe Deepens Lifestyle Coverage With Boston Magazine Acquisition

Boston Globe Media announced last week that it had acquired Boston Magazine from Metro Corp Media to deepen its portfolio in lifestyle content in the Boston area. Terms of the transaction were not disclosed by either party.
In a statement, Linda Henry, CEO and co-owner of Boston Globe Media, said:
This is not just about sustaining a magazine—it’s about strengthening a cornerstone of Boston’s identity and ensuring its stories continue to inspire, connect and resonate with our community for generations to come.
As part of the transaction, every employee at Boston Magazine has been offered a job.
Linda and her husband John Henry bought the Globe 12 years ago from The New York Times at a fraction of the price the Times had paid for the paper in 1993. The Globe has a robust lifestyle section, which Boston Magazine also specializes in. The magazine also offers directories to find everything from senior living communities to wedding planners.
When asked why Metro Corp decided to sell the magazine at this time, David H. Lipson Jr., current Chairman and CEO, told A Media Operator that, “it’s about timing. I’m 69 years old and my kids … didn’t want to get in. This business is challenging and it requires investment. I wanted to find a buyer that would make the requisite investment in the product. The Globe is going to make the investments required to move the brand forward.”
And Globe Media’s Henry echoed that. In an email to A Media Operator, she said, “We have invested every year for the past eleven years to completely rebuild, strengthen, and modernize every aspect of what we do at Boston Globe Media. We have learned a lot from that continuous work and investment, and so we are looking forward to making strategic investments in strengthening Boston Magazine.”
While Lipson wouldn’t share the revenue of Boston Magazine, he did say that print still accounted for roughly 50% of the revenue across the primary magazine, a quarterly “Home” magazine along with a “successful wedding magazine.” A big growth driver for the publisher was events where it was selling tickets and sponsorships and digital advertising “which represents about 25% of the business.”
According to a Boston Globe reported story about the deal:
Boston Magazine has a monthly circulation of 55,000, a Metro Corp spokesperson said. That’s down from 65,000 in 2022 and 75,000 in 2018, according to publicly available Boston Magazine media kits. At the end of 2024, the Globe had 331,901 print and digital subscribers and STAT had 42,936 subscribers, a spokesperson said.
For both Metro Corp and Globe Media, the question now is what comes next.
With the sale, Metro Corp’s remaining brand is Philadelphia Magazine. Lipson said that, “Nothing is changing in Philadelphia right now. We’re kind of assessing where we are now.”
For Globe Media, the goal is develop a business strategy with the Boston Magazine team and determine the next steps. One thing that’s not on the roadmap is taking the strategy to new geographies.
When the Henrys, who also own the Boston Red Sox and Liverpool F.C., bought the Globe for $70 million, the paper “was really struggling,” Linda Henry told AMO. With continued investment in the brand, staying true to journalism being its core and focusing on who they serve, they’ve been able to get the Globe to a stronger position.
When prompted on why it wouldn’t take that strategy and expand to new geographies, Henry said, “We consider ourselves to be the world’s leading experts on our region. While we have subscribers in all 50 states and many other countries, we do not have plans for other regions.”
While other billionaires struggle to make their news businesses work, the Henrys have thus far figured it out. And it’s why Lipson was so happy to sell to them.
“I couldn’t be happier that they bought it. They’re so committed to the city. They’re stakeholders in the city. The Henrys are just perfect.”