LISTINGS |  EDITOR'S PICKS | NEWS | MUSIC | MOVIES | DINING | LIFE | ARTS | REC ROOM | CLASSIFIEDS | VIDEO

Press Herald for sale?

August 24, 2006 11:55:36 AM

pages: 1 | 2 | 3 | 4

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/


pages: 1 | 2 | 3 | 4
COMMENTS

I've been reading the Portland newspapers for years, and the overall quality of the Portland newspapers under the Blethen family is not really any better than the quality under the Guy Gannett company. The fact is that the Portland newspapers are thin at best, relaying too much on wire copy at the expense of independent reporting.

POSTED BY Tmark AT 08/23/06 1:41 PM
The newspaper is for sale, if you look at the shift of news content to ad content under Blethen ownership. The Real Estate section? It's no longer handled by news reporters and editors. It's an advertising supplement, with "news content" bought by the realtors. Weddings? Funerals? If you want coverage, call your Classified Ad rep and prepare to write a check. That content also is for sale, no longer covered by reporters. While readers cry out for more Local News, the Press Herald ditched the Your Neighbors Local News Section for South Portland, Scarborough and Cape. The reason? Not enough ads. What about the readers? Some days it seems that the advertising circulars in my newspaper are thicker than the paper itself.

POSTED BY sioux AT 08/24/06 10:19 AM
Interesting story and generally on the money from my perspective. However, you have made some glaring errors. There are few that doubt the paper(s) have declined in quality since the sale to the Seattle TImes. Simply look at the number of inches on local news vs. wire stories, the cut back of a reporter for state house coverage from both papers, now they share one, when he works. Page count confirms this, and then there is the lack of content on key sections---take the Sunday paper for example. IS there a business section that makes any reference to Maine business folks? No. This is an example buy you can find many each day. This is why circulation is falling. Then there are comments made at inside meetings by the editor when she said that there are few options other than selling. Shocking so many present, people only assumed it was frustration. As for the unions. Forget it guys. The Seattle Times operates out of the 1960 model of "my way or the highway..." Do not look for enlightened management or collaborative solution solving, this is not the style of the Seattle Times company and those Board members are now living in Maine and running the Maine papers. But your assumptions and the editors comments are most likely right, a sale will most like occur despite the Blethen family not wanting to do so. Your article did not draw the line between what the Blethen family "wants" and what it ends up "having to do". Selling is something none the insiders want to do, and will avoid doing or even thinking about, but they will. You are right, the market will most likely force the trade of the Maine papers to McClatchy people. Your biggest error was even suggesting that any local paper company could gather either the talent or the financial ability to buy the Blethen papers. The Lewiston Sun Journal is incaple of such a purchase on so many fronts it boggles the mind. Chris Harte? Moving to Texas. Bangor Daily News, no way that this family newspaper would take on the debt, simple no way. Simply because someone owns some weeklies that do not make money (and they do not make money at all) you missed the only other option than McClatchy, Dean Singleton of Denver. His media company was hot on the heels of the Blethen family when bidding was hot during the sale. Blethen was bluffed and paid 10% more than Singleton, the notroious high bidder of the newspaper business. Singleton backed out at at around $190 million (your reported purchase price was too low, also). And yes, Mr. Singleton is ready to walk in and save the day. But for who? The answer is simple, most likey the Blethen Family and the financial life of the Seattle Times, but certainly NOT the unions or staff in Maine. Dean Singleton is known for walking in day one, ripping up the union contracts and reducing salaries (and yes the employees are WAY overpaid compared to other newspapers). So what will happen? Do not expect to get the answer ever from the Blethen management. And do not expect things to get better, life will be driven by what happens in Seattle since nothing good on the economic side of things will happen in Portland. Give it 18 months. Enjoy your days.

POSTED BY boxcar AT 08/25/06 10:59 PM
Bethan newspapers should just slam shut thier doors. All the drunken residents do up in Maine is complain and 'see' Liberal conspiracies when they read the newspapers. You think people are laughing now at Maine,Wait til there is no daily newspaper in Maine. lol! B. Washington, Boston,Massachusetts

POSTED BY maine_sucks AT 08/28/06 3:59 PM
Boxcar and the others - thanks very much for your comments! Sioux - you forgot to mention that obituaries are also now paid advertising, no longer considered local news. Boxcar's suggestion of Dean Singleton is an interesting one, and it may be the right one, or there may be others who come together in interesting arrangements, as we saw with the consortium of investors Brian Tierney collected in Philadelphia.

POSTED BY Jeff Inglis AT 08/31/06 1:52 PM
Now read this: Paid Ads on the Front of News Sections!!! On the heels of your well-informed article, newspaper management announced last week that a longstanding tradition is about to be broken separating the most important news from paid advertisement. Paid Ads will soon appear on Section Fronts! Imagine this, Jolly John sharing the front-page with a story on Global Warning. Staffers who attended the companywide meeting on the announcement said the Executive Editor, Jeannine Guttman, was in tears... There's good reason the rest of us should care about this. Advertisers get picky when they pay big bucks to promote their products. If they are going to shell out money for advertising, they may have conditions about the kinds of stories they want and DON'T want in the newspaper. This latest movement by the Blethens is just another example -- and the most glaring example -- of how the content of the Portland Press Herald is For Sale. Any bidders?

POSTED BY sioux AT 09/12/06 7:47 AM

Login to add comments to this article
Email

Password




Register Now  |   Lost password

The Best 2008 Readers Poll

MOST POPULAR

 VIEWED   EMAILED 

ADVERTISEMENT

BY THIS AUTHOR

PHOENIX MEDIA GROUP
CLASSIFIEDS







TODAY'S FEATURED ADVERTISERS
   
Copyright © 2008 The Phoenix Media/Communications Group