The News-Journal in Florida's Daytona Beach is expected to be sold for $20 million to a newly formed investor group, the paper announced today. The deal is subject to approval by a federal judge, and would end a six-year legal battle between Cox Enterprises and majority owner the Davidson family.
There had been frequent rumors in 2008 that Gannett was a possible bidder for the paper, which is 93 miles north of the company's Florida Today in Brevard County's Melbourne. Since then, however, Florida's real estate collapse has wreaked havoc on GCI's four newspaper markets in the state.
Please post your replies in the comments section, below. To e-mail confidentially, write jimhopkins[at]gmail[dot-com]; see Tipsters Anonymous Policy in the rail, upper right.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
Note: Only a member of this blog may post a comment.