Link to the Herald report.
Digital First Media won the Boston Herald in a five-hour bankruptcy auction with an $11.9 million bid that all but settles who will carry the news organization into the next chapter of the city’s rich media history.
The Denver-based company fought off two other suitors — GateHouse Media and Revolution Capital — yesterday afternoon in the 18th-floor offices of the Herald’s bankruptcy attorneys, Brown Rudnick.
This is probably good news. I don’t know anything about Digital First, and I imagine the transition will be tough on the existing staff. But I would really hate to see Boston become a one-newspaper town. Newspapers still matter.
Please share widely!
Dan Kennedy: the stated goal of investment firms like Digital First “is not to keep struggling newspapers alive.; it is to siphon off the assets and profits and then dispose of what little remains.”
https://dankennedy.net/2017/10/04/the-rise-and-fall-of-digital-first-or-how-to-get-rich-plundering-newspapers/
Sounds precisely like what Purcell did.
Well, like I said, I don’t know anything about this company. I do know that, in the grand tradition of American newspapers, the owners. are quirky at best and more often dictatorial.
I’m still glad somebody bought the paper.