Sunday, March 22, 2009

More on the future of Maine's biggest newspaper chain

The Portland Press Herald carried an unusually informative article Mar 20 on the current state of Richard Connor's bid to buy the paper's parent, Blethen Maine Newspapers, which have been up for sale for more than a year.

The web version of the article, by Tux Turkel and Matt Wickenheiser, includes a downloadable copy of materials distributed to potential investors by Mr. Connor which reveal that he has negotiated a "bargain-basement price" for the struggling chain, based largely on the value of the buildings they own. It confirms earlier reports by the Statehouse News Service.

For further background on the plight of Maine's newspapers, there's my piece in the January issue of Port City Life.

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