GlobalPost CEO Philip Balboni shed some light on the behind-the-scenes effort to secure the release of the publication's reporter, James Foley.

On Tuesday, ISIS posted a horrific video showing the beheading of Foley, who had gone missing in Syria two years ago.

Another American journalist, Steven Sotloff, also appeared on the video, with ISIS threatening to kill him next.

Balboni said the company first heard from the captors last November in an email demanding 100 million euros for Foley's release. Balboni said there was never any consideration by the U.S. government to pay a ransom, so the company and family tried to initiate their own negotiations.

But Balboni said the communication stopped suddenly and they never heard from ISIS again until a "rage-filled" message a few days ago that made no demands and included a threat to execute Foley.

He said he doesn't understand how the unsuccessful U.S. Special Forces operation came about and then ultimately failed to locate Foley. Balboni said he had no knowledge of the attempted rescue.

"There needs to be a reassessment of how we handle situations like this and what sort of communication can take place among governments. There's a lot of post-mortem to be done here to figure out how we can do better the next time," said Balboni.