The Blethen Deal is Done
Pennsylvania newspaper publisher Richard Connor is set to make an announcement on April 30 that he has secured the necessary financing and is closing on his purchase of the Blethen Maine Newspapers. Two sources familiar with the negotiations agree that the sale will go through, although they could not reveal the exact terms, including the price Connor and his partners will pay.
The Blethen Maine Newspapers include the Portland Press Herald, Kennebec Journal, Morning Sentinel, MaineToday Web site and other properties. Connor would also become the owner of valuable real estate in downtown Portland.
Connor’s name first surfaced as a potential buyer of the newspapers in July 2008 as one of the partners in Maine Media Investments, a partnership involving former U.S. Sen. William Cohen, developers Robert Baldacci and Michael Liberty, and others. Since then, Cohen, Baldacci and Liberty have faded into the background, and it’s not known if they’ll have any involvement with the new ownership, although one source said, “If they do, it’ll be miniscule.”
Connor did secure some financing through HM Capital Partners in Dallas, and that private equity firm is expected to own a substantial share of the Maine papers.
Al Diamon can be e-mailed at aldiamon@herniahill.net.
The views expressed on this Web site are those of the authors alone and do not necessarily represent the views of Down East Enterprise or its employees.
Waiting for the correction...
Wrong, as usual. And as usual, no correction. Mr. Media Mutt clearly doesn't walk the walk.
About 4 hours left in the
About 4 hours left in the workday. Nothing yet!
News??
Beat them to the news??? What news? If I want speculative news, I'll read the Weekly World News.....and now it seems this website.
Um ...
Guess you messed up. Don't worry, you are not unique!
Foggy crystal balls
Isn't this a lot like all of those predictions about the end of the world?
1674: "The world will end in 1675."
1676: "We misread the chicken entrails. The world will end in 1826."
1827: "A slight miscalculation. The world will end in 1919."
1920: "Never mind that last prediction. The world will end in 2008."
2009: "Okay, we don't know when the world will end, but we know the Blethen Maine papers will be sold by April 30. You can believe us this time."
Enough, Already
On behalf of all of Blethen's employees... 8 months of this "possible" sale is long enough. Mr. Connor, if you are going to buy this company--please do it. If not, please walk away. We're tired of being anxious and tired. If you can't do it, we're ready to let the chips fall where they may. But life needs to go on.
A KJ employee
If your sources don't know ...
If your sources don't know whether Cohen, Liberty or Baldacci will "have any involvement with the new ownership," how are you sure they know the deal is done?
- UMaine 2L
right....
Dollars to donuts - not going to happen tomorrow. Y'all've been duped again.
To sell or not to sell, that is the question
We really mean it this time! No, really! Honest to God! This is the real deal! No more foolin' around. It's gonna happen this time! Yup. Guarnateed. We promise. Okay, maybe not.
The Connor Era
AD:
You beat them all to the news again. What a shock-ah.
Look forward to monitoring Connor's, um, progress...from out here on the prairie. Odds on success are very, very long. He has purchased a sick pig.
Meanwhile please ship me two double Italians (must be from DiPietro's) and a six of Shipyard.
Thomas Cushing Munjoy
There is No News on the Sale
While thing are looking positive on the sale, we do no expect any announcement on April 30.
Tom Bell,
President of Portland Newspaper Guild
Guild
Tom, we all know you THINK youre a player. But without a contract, maybe Connor doesnt feel he has to tell you anything, including how many of you stay. Way to keep your folks in the dark and hung out to dry.
nitpicking
"minuscule," not "miniscule."
Signed, former PH copy editor