Guttman wrote about how “values” and commitment to community are what drive the Press Herald/Sunday Telegram, rather than finances, saying “our goal is loftier than making record-higher profits quarter to quarter, year to year.” (That must be a relief, given the dark financial position the Seattle and Maine papers are in.) She wrote about the “freedom” that family ownership gives to a newspaper. And she quoted a memo from Frank Blethen on the occasion of the company’s 110th anniversary: “We are proud of the dedicated employees . . . We are pleased that we could keep Portland, Waterville, and Augusta away from the sorry fate of the faceless investor ownership which has fallen on most newspapers.”
Who else would be interested in buying? The Costello family, who own the Lewiston Sun Journal, have been expanding their holdings in Southern Maine in recent years, buying the weekly Forecaster chain in 2003, and in 2005 adding the Rumford Falls Times and the Norway Advertiser-Democrat. They, too, are a privately held family newspaper company with years of presence in Maine. There’s also the Warren family, who own the Bangor Daily News.
Chris Harte, a former publisher of the Press Herald/Sunday Telegram (when they were owned by Guy Gannett), who also used to be a Knight Ridder executive, was part of a group that bid to purchase the Philadelphia Daily News and the Philadelphia Inquirer, which became available as part of the McClatchy-Knight Ridder deal, but ended up not being the winning bidder.
Harte, an heir to the Texas-based Harte-Hanks newspaper fortune who lives in Cumberland Foreside and has an office in downtown Portland, is a major investor in the rapidly growing Current Publishing weekly-newspaper empire in Southern Maine. He told the Inquirer in March that he “might look at some of the other” papers Knight Ridder had held as well, though he says he is not likely to be interested in buying the Maine papers.
Kirsten Terry contributed to this report
On the Web
Portland Press Herald: //www.pressherald.com/
Seattle Times: //seattletimes.nwsource.com/