‘Taxi king’ Ed Tutunjian to abdicate his throne
The decades-long reign of Boston’s “taxi king” is coming to an end.
Edward J. Tutunjian — whose Boston Cab empire crumbled amid competition from Uber and allegations of worker exploitation that triggered a federal investigation — has agreed to sell his company, 362 taxi medallions, and several properties in the Fenway to developer Jay Doherty for approximately $145 million.
The deal settles a brief legal skirmish between Tutunjian and Doherty, whose development company, Cabot, Cabot & Forbes, sued the Boston Cab owner in December for allegedly walking away from a contract the sides signed earlier in 2016. But after a state judge temporarily blocked the sale of the Fenway properties to another party while the dispute was litigated, Tutunjian agreed to sell everything to Doherty after all.
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