By: Joe Strupp
Private equity firm HM Capital Partners LLC and newspaper veteran Richard L. Connor are in advanced talks to buy the assets of Blethen Maine Newspapers Inc., according to a report on The Wall Street Journal Web site, which cites parties familiar with the matter.
The newspaper group is owned by The Seattle Times Co. and includes the Portland Press-Herald/Main Sunday Telegram, Morning Sentinel in Waterville, and the Kennebec Journal in Augusta. The story says the deal also includes the newspapers’ Web sites and Mainetoday.com.
“HM Capital is backing the efforts of Richard L. Connor, editor and publisher of the Wilkes-Barre, Pa., Times Leader newspaper, which HM Capital bought in 2006 from McClatchy Co. (MNI),” the story adds. “The parties began talks about a year ago but hit a roadblock because of the macro-economic environment surrounding the newspaper industry, according to one person close to the investing group.”
The entire story can be found here.