The Gazette in Colorado Springs and other newspapers and TV stations owned by Freedom Communications are for sale, according to a column on the Poynter website.
The local daily paper has undergone a series of layoffs during the past four years while raising the cost of subscriptions.
Since emerging from bankruptcy last spring, Freedom, based in Irvine, Calif., has made a push into the digital world under leadership of CEO Mitchell Stern, who previously served as president and chief executive officer of DirecTV U.S.
As Rick Edmonds notes in the Poynter column:
Earlier this month, Stern named another former Fox executive, Thomas Herwitz, to run the TV station group. Freedom is reportedly asking $400-500 million for its broadcast properties.
Larry Kramer, the digital entrepreneur who built MarketWatch, which Dow Jones ultimately acquired for $500 million, joined the Freedom board this summer.
We've asked Gazette Publisher Steve Pope what he can tell the community about the sale, whether there's a floor price and whether the listing is open-ended time-wise. We'll let you know what he says, if and when we hear from him.
Meantime, keep reading the Independent, Colorado Springs' largest locally-owned newspaper.
Source: http://www.csindy.com/IndyBlog/archives/2010/11/18/read-all-about-it-gazette-for-sale
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