STAR-BULLETIN BIDDING DEADLINE EXTENDED AGAIN

By: Staff Reports

Suitor Seeks Subsidy To Continue Publishing Star-Bulletin





The deadline for bidding on the Honolulu Star-Bulletin was extended
another two weeks by a federal judge on Tuesday, The Honolulu
Advertiser reports.


The three standing offers, according to newspaper broker Phil Murray,
were deficient because they were not in the correct form. One bidder
requested an $18 million subsidy even though the sellers said none
was being offered.


The three bidders on the Honolulu daily were Peter McClaran of Kauai,
Canadian publisher David Black, and Los Angeles publisher Steve
Hadland.


Federal Magistrate Barry Kurren gave bidders until Sept. 25 to refine
their bids and the court will make a decision on Sept. 29.


Florida-based Liberty Newspapers offered the paper for sale to
postpone an antitrust lawsuit. The suit was filed after Liberty said
it would close the Star-Bulletin, ending a joint operating agreement
with Gannett Co. Inc., owner of The Honolulu Advertiser.





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Related stories:



HONOLULU STAR-BULLETIN GETS ANOTHER BID (09/08/00)



HONOLULU STAR-BULLETIN GETS NEW SUITOR (09/01/00)



HONOLULU STAR-BULLETIN DEADLINE EXTENDED (08/11/00)









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