By: Two prominent Minnesota businessmen are seeking to become minority owners of the Star Tribune.
Minnesota Timberwolves owner Glen Taylor and Minneapolis publisher Vance Opperman have launched a bid to acquire 25 percent to 35 percent of the Minneapolis newspaper's equity. The offer is valued at $6.25 million to $8.75 million.
The bid values the paper as a whole at $125 million, which is within the value range set while the paper was in bankruptcy.
Both men say the Star Tribune is a local asset that should have strong community ownership. But they say their offer is not a charitable contribution and their goal is that the paper be profitable.
Star Tribune board chairman Mike Sweeney says he is "delighted" by Taylor and Opperman's interest.
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