Monday, February 7, 2011

Gazette up for auction?

Posted By on Mon, Feb 7, 2011 at 2:14 PM

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The Gazette's parent, Freedom Communications, is putting its newspapers and TV stations up for sale, according to the Los Angeles Times and other media outlets.

Freedom emerged from bankruptcy last year still owing a few hundred million dollars. The business, formerly run by the descendants of founder R.C. Hoiles, is now run by hedge funds and digital media executives.

It's impossible to predict what a sale of the Gazette could bring. If MediaNews Group acquires the Gazette like it did the Boulder Daily Camera, we could see the newspaper devolve into something resembling a Denver Post bureau, perhaps.

Let's hope not. Colorado Springs is a vibrant city with a well-educated population that deserves its own daily newspaper.

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