Posted on 03/27/2012 5:42:15 PM PDT by paul in cape
Husband of Dem rep Chellie Pingree has purchased a 75% share in Maine's Largest Newspapers.
Sussman to get 75% stake in MaineToday Media
A new restructuring plan finalized today between MaineToday Media and Maine billionaire Donald Sussman gives Sussman 75% ownership in the media company.
In February, Sussman outlined a deal to become a 5% equity partner through a $3.3 million loan to MTM. But as the deal went through its due diligence, investors, including out-of-state pension funds, insisted on changes. Maine Values, Sussman's company, is providing the same money, but as a straight stock purchase, resulting in a 75% ownership of the company, according to a release from MaineToday Media.
MaineToday Media publishes the Portland Press Herald, the Maine Sunday Telegram, the Morning Sentinel and the Kennebec Journal.
(Not in article - Sussman is responsible for about 80% of his wife's (Dem US Rep Chellie Pingree)campaign cash.
(Excerpt) Read more at mainebiz.biz ...
Unbelievable: the socialists 1%'ers drop all pretense.
That also happens to be about 65% of Maine’s total daily newspaper sales!
I know Maine is remote, but I’m surprised people even up there still read newspapers. Who would buy up newspapers when a decreasing share of our population can read anyway?
Good luck with that.
Maine’s newspapers were already liberal, anyway. I guess he wants to make absolutely sure, after the voters finally got tired of their corrupt governor and elected a Republican.
Maine’s dailies are inbred and intolerably liberal. And that was before Sussman.
I have lived in mid-coast Maine for 10 years.
Many people in Maine still do not use the internet for their daily news.
They get the majority of their info from newspapers and basic cable news sources.
Here in lincoln County we have a great county newspaper;
obits,high school sports, and local politics.
For many, it’s the only news they read or watch.
knox county ex pat here - left maine many decades ago
living in utah now, after bailing on other states, including california (god, i can’t believe the decades i wasted there)
sorry for your plight vote with your feet.
beautiful state, hopeless people.
Good luck to his new buggy whip enterprise. Let him throw away his money.
5.56mm
Newspapers kill trees.
Save trees.
Don’t read newspapers.
I see; it is probably like that in much of the country. Here in the NYC metro area I think the tabloid types do well (Daily News), but the others are hurting.
It has just so much more efficient to use the internet of for news; you avoid a lot of the BS. I find my town paper (which is free) to have more use than any big papers here; it will warn you of construction, where crime is happening, etc. - things that have a practical application. Otherwise I only read the others as toilet reading at work - did I just say that out loud?
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