By: Joel Davis Newspaper Has Been On the Block Since February
At least four companies are bidding on the Santa Barbara (Calif.)
News-Press, which the New York Times Co. put on the block in February.
The News-Press recently reported that Copley Newspapers, Howard
Newspapers, and MediaNews Group, which all own newspapers in Southern
California, are competing for the paper. A fourth, non-newspaper, company,
headed by Santa Barbara billionaire Wendy McCaw, has also been identified by
the paper as a bidder.
The News-Press reported that bidding for the 45,000-plus-circulation daily
is at least in the range of $80 million to $100 million.
Newspaper analyst John Morton said he wasn't surprised that MediaNews,
Copley, and Howard want the paper, as it would be a nice addition to each
chain's existing papers in the region. Although the News-Press has been a
disappointing performer for the Times Co., it circulates in an affluent,
educated market and more or less has the daily newspaper market to itself,
traits that could make it an attractive buy, Morton said.
Joel Davis (jdavis@editorandpublisher.com) is West Coast editor for E&P.
(c) Copyright 2000, Editor & Publisher
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