"We are very proud of the association we have had with The Boston...and we're delighted to have found a buyer in John Henry, who has strong local roots and a deep appreciation of the importance of these publications to the Greater Boston community," said Mark Thompson, the former BBC director-general who became president and chief executive of The New York Times Company last year.
"As a result of this agreement, we will be able to sharpen our company focus on and investments in The New York Times brand and its journalism."
The New York Times Company has received approaches for The Globe before. In 2009 it turned down an offer of $35m after warning the Boston newspaper was heading towards losses of $85m.
Mr Henry is worth around $1.5bn according to Forbes. His foray into print media follows similar moves by US billionaire investor Warren Buffett, who has bought more than 60 newspapers over the past few years, including his local paper the Omaha World Herald.
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