Topic: Philip Balboni

Global Post CEO Philip Balboni confirmed that ISIS demanded a ransom of 100 million euros (approximately $132 million) for James Foley. Balboni stated that the organization and Foley's family were attempting to raise $5 million, a figure more in line with ransoms paid by European governments. He claimed that the start of U.S. bombing in Iraq "sealed Jim's fate" by ending the possibility of a negotiated release.

The Global Post is supported by the "Ground Truth Project," which receives funding from major organizations including the Ford Foundation, the Henry Luce Foundation, and the Kaiser Family Foundation. CEO Philip Balboni, a veteran media executive with ties to the Hearst Corporation and NECN, oversees these partnerships. This high-level financial backing contrasts with the "rinky-dink" appearance of the Global Post's public-facing news operations.