Originally published Monday, June 15, 2009 at 3:08 PM
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22 at Blethen Maine told they'll lose jobs
The Seattle Times Co. has sold its Blethen Maine newspapers, including the Portland Press Herald and Maine Sunday Telegram, to an investor group led by Bangor native Richard Connor.
The Seattle Times Co. has sold its Blethen Maine newspapers, including the Portland Press Herald and Maine Sunday Telegram, to an investor group led by Bangor native Richard Connor.
Terms of Monday's sale were not disclosed. The Seattle Times reportedly paid upward of $200 million for the former Guy Gannett chain in 1998, but the price that newspapers fetch has declined sharply amid a drop in ad revenues and the migration of readers to the Internet.
Connor, editor and publisher of the Times Leader in Wilkes-Barre, Pa., signed a purchase agreement in November but the sale was put off while he scrambled to line up financing.
Blethen Maine also includes the Kennebec Journal in Augusta, the Morning Sentinel in Waterville and the mainetoday.com Web site.
Copyright © The Seattle Times Company
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