December 11, 2008

Friday appears to be the deadline

Those interested in buying The Bristol Press -- and there apparently are at least a couple of prospects -- have been told they need to submit by Friday a letter of intent to purchase the paper.
From among those interested, the newspaper broker dealing with the sale will apparently pick one soon to engage in negotiations.
I don't know who's in the mix or what plans they may have for the paper.
But I suppose it's encouraging that we're not looking at a completely blank slate.
The paper's owner, the Journal Register Co., has said it will close the Press, New Britain Herald and 11 Central Connecticut weeklies about Jan. 12 if no buyers emerge.
I don't have any idea, by the way, about the interest anyone might have in the Herald or the weeklies. But it's certainly possible at least one buyer might be eyeing the entire group.
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Copyright 2008. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com

6 comments:

Anonymous said...

Fingers crossed....

peace03 said...

That's positive news. I hope the Press is saved!

Steve Collins said...

You should be aware, though, that even if a purchaser emerges, it doesn't necessarily mean the Press will survive.
One scenario that I'm sure won't happen, for example, is the Tribune Co. could buy it in order to close it down and eliminate competition. Years ago, that might have been an option. It isn't now because the Tribune Co., owner of the Hartford Courant, has no money.
But I could spin other dire scenarios that aren't so far-fetched.
I prefer to keep hope alive, though, and to focus on outcomes that mean Bristol will continue to have a newspaper.

Anonymous said...

I hope that whoever buys the paper fires your sorry ass, Collins.

Anonymous said...

Let's hope it's someone that loves America .


That would be such a wonderful change .

john reek said...

wow! 606pm sure has thier panties in a knot!
I hope the press is saved and that your not eyeing the resume update software too closely.
two questions while there is still time who is in the mix to buy the paper and with the city budget cuts how soon can we find out whats being cut and by how much?