By: E&P Staff For nearly a year, a "For Sale" sign has hung on the Austin (Texas) American-Statesman, apparently attracting no interest. But Thursday, the newspaper reported that three possible buyers toured the premises of the Cox Enterprises-owned daily earlier this week.
Among the visitors, according to the article by Claudia Grisales and Lori Hawkins, was Walter Hussman Jr., chairman of the family-owned WEHCO Media and publisher of the Arkansas Democrat-Gazette.
Also touring the paper Tuesday was Clifton Robinson, whose Robinson Media Co. agreed to buy the Waco (Texas) Tribune-Herald from Cox.
A third possible buyer, the newspaper reported, is Brian Ferguson, an Austin investor who last March was part of a group that bought a 6.2% stake in Dallas-based Belo Corp.
"My partners and I are looking at a number of newspaper opportunities in Texas and the West," Ferguson told the newspaper. "I think everyone knows the American-Statesman is for sale, and I think any serious newspaper investor will obviously want to consider the Austin American-Statesman as an investment potential."
Cox Media Group President Sandy Schwartz confirmed interest in the American-Statesman from "several groups."
"We need to look at [the possible bids] and figure out which is best, then decide if that's a fair bid for what we think is a great newspaper in a great city," he said. "I honestly can't tell you if anyone has reached that threshold or not. It's been a year, and we need to get to a decision. We need to reach a decision because it's not fair to the employees. I think we're coming closer to the end of the process."
Cox put up for sale 29 papers, including the American-Statesman, last August and has so far sold 18 of them.
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