Star Tribune employees told Wolves owner Glen Taylor is buying paper

Categories: Media
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Glen Taylor
In recent days, Timberwolves owner Glen Taylor has been rumored to be closing in on a deal to purchase the Star Tribune.

It appears the transaction is now all but official.

See also:
In wake of Boston Globe and Washington Post sales, might Star Tribune be next?


A Star Tribune source passed along this email, which was sent to the entire staff today:
To All Star Tribune Staff:

I'm very pleased to share with you that Glen Taylor has executed a letter of intent to acquire the Star Tribune. Taylor is currently engaged in a due diligence process which, when complete, would lead to the sale of our company.

As I hope you can appreciate, there's a limit to how much we can discuss publicly during this due-diligence period. However, I would like to invite all employees to the Assembly Room at our Portland Avenue building today at 2:30pm or to the Heritage 1st floor Vendeteria today at 3:30pm, where I will answer those questions I can.

Mike Klingensmith
Klingensmith is the Star Tribune's publisher.

A Star Tribune report quotes Taylor as saying: "It isn't that I'm interested in going around and buying papers in other parts of the country... I'm interested in this one because it's a Minnesota paper."

"I understand that this is a difficult business area but I'm in a lot of printing areas and they are all difficult business areas," Taylor continued. "I have just found out that if you're the best in that area, then you can do quite well."

Some just hope Taylor's tenure as the Strib's owner goes better than the last ten years have for his NBA team: The sale is expected to be closed in May, the Strib reports.

-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at arupar@citypages.com.



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10 comments
foolsday
foolsday

They print the Pi Press so did he get that paper in the deal as well?  

Jim Hermel
Jim Hermel

Maybe you should feal happy that someone wanted to see a paper in the twin cities. Before you say my dog will pee on it?

yoopie93
yoopie93

Well, if the Star Tribune becomes even half as successful as the Timberwolves have been in recent years . . .

Shayne O'Neil
Shayne O'Neil

Wouldn't use that rag for my dog to piss on.

Bob Alberti
Bob Alberti

On the upside, maybe this will FINALLY get the trolls on their comment boards to stop calling it the "Red Star," as if it has actually published anything left-of-center for the past decade.

Bob Alberti
Bob Alberti

Great, a Republican businessman who owns two sports franchises is buying the local paper. I wonder if that paper will thereafter be launching any investigations into any of the businessman's business dealings?

cheepsoda
cheepsoda

@foolsday  You realize there's a difference between a media outlet's editorial team and their physical printing press right?

k2yeb
k2yeb topcommenter

Stupid. You are part of the problem if you think one side is really that much different. 

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