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Article: Hefty price of Pioneer Press may rule out local buyers; Although the sale is creating buzz in local media circles, the paper's future owner is likely to be from outside the Twin Cities.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- March 18, 2006
- Author:
CopyrightCOPYRIGHT 2006 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Deborah Caulfield Rybak; Terry Fiedler; Staff Writers
Interest in the pending sale of the St. Paul Pioneer Press continues to ricochet through Twin Cities media, political and financial circles. But talk is cheap, and the paper could cost north of $100 million, a proposition that only a select few can seriously contemplate.
"Everybody's gossiping about it, but no one sounds serious about buying," said James Dolan, whose Dolan Media Co. owns an array of business and legal newspapers nationwide, including Finance and Commerce and the St. Paul Legal Ledger in the Twin Cities. He isn't in the market, either.
"It's kind of intimidating. You'd ...