Purchased in 1993 by The New York Times company for $1.1 billion, the Globe is now being sold for as little as $70 million.
In a statement in the Globe, Mr Henry praised the paper's journalistic pedigree: "The Boston Globe's award-winning journalism as well as its rich history and tradition of excellence have established it as one of the most well-respected media companies in the country."
The sale includes a range of media concerns owned by the New York Times in New England, including the website Boston.com, a direct mail marketing company and a local newspaper in Massachusetts.
As is the case with many newspapers throughout the world, the Globe has been hit by a slump in advertising revenues and declining circulation. Nevertheless, the newspaper has reported recent gains, thanks to big increases in digital subscriptions, taking overall weekday circulation to 245,572.
