Report: 'Plain Dealer' Publisher Advance Not Getting 'Beacon Journal'

Posted Wednesday, June 7, 2006 12:00 am

By: E&P Staff Advance Publications Inc., publisher of Ohio's biggest newspaper, the Plain Dealer in Cleveland, will not be the next owner of the Akron Beacon Journal, the newspaper reported Wednesday.

Citing an unnamed "person close to the process," Beacon Journal business writer Gloria Irwin reported that bidding for the paper has been completed, and the winning bid could be announced as early as Wednesday.

The Beacon Journal is one of six papers still unsold from the dozen that The McClatchy Co. immediately put on the auction block after announcing an agreement to acquire the 32-daily Knight Ridder Inc. chain.

Advance is one of four parties reportedly interested in bidding for the Beacon Journal. The others are Yucaipa Companies, which is financing a "worker-friendly" acquisition effort of The Newspaper Guild; private equity firm HM Capital Partners LLC of Dallas; and British Columbia-based Black Press Ltd.

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Report: 'Plain Dealer' Publisher Advance Not Getting 'Beacon Journal'

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