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Stephen Taylor’s group has bid $35 million for the Globe.

Stephen Taylor’s group has bid $35 million for the Globe.

Two bidders visit Boston Globe; third group may drop out

Two potential buyers of The Boston Globe visited the newspaper in the past five days - one a group headed by Stephen Taylor, whose family used to own the paper, and the second, Platinum Equity of Beverly Hills, Calif., a private equity investment firm, according to several people involved in the meetings.

Beth Healy | The Boston Globe | Published: 09/15/2009 06:24

Another local group does not have a visit scheduled and could drop out of the bidding, according to people involved in the process. That group is led by former advertising executive Jack Connors and Boston Celtics co-owner Stephen Pagliuca, who is considering a bid for Edward M. Kennedy’s US Senate seat.

Taylor and Platinum offered to pay about $35 million for the Globe and Worcester Telegram & Gazette, both of which are owned by The New York Times Co. They would also assume $59 million in pension liabilities for the papers.

Pagliuca and Connors submitted the lowest bid. It called for a future payout to the Times Co., according to people involved in the talks. They also proposed creating a nonprofit foundation that would have a stake in the paper.

In meetings with Globe employees last week, Times Co. executives said some bidders were further behind in the process than others - apparently a reference to Pagliuca and Connors. The Times Co. declined to comment yesterday.

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