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Press Herald union won't buy the paper

Crosscut Seattle is reporting some fascinating info on the prospects for a buyer of the Blethen Maine Newspapers (the Portland Press Herald/Maine Sunday Telegram, Central Maine Morning Sentinel, and Kennebec Journal, plus mainetoday.com and ancillary related properties, including real-estate holdings in Portland, South Portland and elsewhere).

Here's a link to the story, by Bill Richards, who has covered the Seattle Times and the Blethen family for many years.

Some highlights: 

-The newspaper's employees union declined to sign a non-disclosure agreement with the Blethens that could have allowed them to view the company's financial information, Crosscut reports.

-Three buyers are in the running to be the new owners.

-Ten prospective buyers have looked at the papers' financial records, some with primary interest in the papers' real-estate holdings.

-Richards names Black Press, the Canadian newspaper giant, as a possible buyer, though the company's owner wouldn't confirm that.

 

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