Tuesday, June 16, 2009

Press Herald Finally Sold

As they themselves report, the long process of purchasing the Press Herald, including its real estate, other papers and websites, is done. Much of the downtown real estate will be sold off, including the 390 Congress St. building.

Good luck to the new owner!
"An investment group led by Bangor native Richard L. Connor purchased the Portland Press Herald/Maine Sunday Telegram on Monday, vowing 'a business strategy' that will 'further strengthen' the newspaper.

The sale caps a 15-month effort by the debt-laden Seattle Times Co. to sell its media holdings in Maine. The purchase by Connor's group, MaineToday Media Inc., includes the Kennebec Journal in Augusta and the Morning Sentinel in Waterville, the MaineToday Web sites and niche print publications. Together they employ roughly 500 people."