Salt Lake Tribune sold to Huntsman family

[JohnHammond]

Paul Hunstman, brother of Jon Huntsman Jr., buying the Salt Lake Tribune for an undisclosed sum. We'll see how this will go over, since the paper has been know as the non-Mormon paper in the area. If Jon Hunstman Jr. bought it, you could make an argument it still would be a non-Mormon paper.

Huntsman family buying The Salt Lake Tribune, hopes to ensure 'independent voice for future generations'

 

[DanOregon]

Given the Huntsman name in the area, it should be an upgrade over Digital First. I wonder if the Denver Post is being shopped as well.

 

[User 4332]

I believe the Salt Lake Tribune was owned by an investment group that obtained it from Digital First when MediaNews emerged from bankruptcy, but that Digital First continued to manage it while a buyer was sought. Not sure the Denver Post is in the same boat.

It's hard to imagine a scenario where the Huntsmans owning it isn't an upgrade.

 

[MisterCreosote]

Maybe that means his daughters will re-emerge. Just put them right in the masthead:

 

[TigerVols]

Maybe that means his daughters will re-emerge. Just put them right on Page 3.

 

[Football_Bat]

Newspapers are the new fashion accessory of the rich, apparently. Like Paris Hilton's pocket chihuahua.

 

[YankeeFan]

I figured Sr. had bought it so Jr. would have steady employment.

 

[JohnHammond]

I figured Sr. had bought it so Jr. would have steady employment.

Ha-ha. Just you wait. Jr. will be the GOP's white knight!

 

[HanSenSE]

Deal done. And if I'm reading this right, SLC stays a two-paper city.

Salt Lake Tribune sale to Huntsman is done; new deal ups paper's profit share

 

[JohnHammond]

Sad tale of how newspaper valuations have cratered. The Kearns family sold the paper to then-cable TV giant TCI for more than $700 million worth of TCI stock in 1997. AT&T bought TCI in 1999 and sold the paper for $200 million to MediaNews Group in 2000. The Hunstmans offered $15 million that was rejected, but I can't see the final purchase price being greater than $25-$30 million.