Thursday, July 31, 2008

Press Herald buyers?

With the Blethen's apparently with their backs against a wall, I suspect any offers will be real low. But considering the value may be more in the websites and real property than the actual newspapers, who knows what it is worth.
"A former Maine senator, two well-known Maine businessmen and a longtime newspaperman with ties to the state are working to acquire Blethen Maine Newspapers, which includes the Portland Press Herald/Maine Sunday Telegram.

Frank Blethen, chairman of Blethen Maine Newspapers, announced Wednesday that the company has signed a letter of intent with a group called Maine Media Investments. The agreement provides a limited, exclusive time period to negotiate terms of a sale.

Those negotiations are expected to begin as soon as possible, both sides said, but neither would disclose a timeline. They simply indicated that they hope to conclude the process quickly."
- Press Herald

No comments: