Monday, December 8, 2008

Local investor group still interested in Baltimore Sun as Tribune Co. files bankruptcy

Ted Venetoulis says local investors are still interested in buying the Baltimore Sun — sort of.

Venetoulis, who is leading the investment group, said the investors would need to figure out if the problems affecting the Sun and other papers are cyclical or permanent before striking any deal, this in the wake of Tribune Co., the Sun’s parent company, filing for bankruptcy protection Monday.

He also admitted that a lot has changed since Venetoulis and about 25 other investors first expressed interest in purchasing the newspaper in 2006. The economy has tanked. Car dealers and retailers — stalwart newspaper advertisers — are slashing advertising spending as they reel from sluggish consumer spending.

}}} full story {{{

No comments: