More change is coming to the local media market: The Colorado Springs Business Journal is reporting on its website that the paper will be sold by its parent, the Dolan Company, which is headquartered in Minneapolis.
Dolan also is selling another of its properties, the Mississippi Business Journal. There was no indication in the CSBJ report about buyers, timing or selling prices. Employees apparently were told because the possible transactions would be part of Dolan's quarterly report to the Securities and Exchange Commission.
Dolan has owned the local weekly publication for more than two decades.
The full story is at csbj.com, but here's how it begins:
The Dolan Company has entered negotiations to sell two of its properties — the Colorado Springs Business Journal and the Mississippi Business Journal.
Executives from Dolan, a publicly traded company, are not commenting about who the buyers are, or about the selling prices of either publication. Business Journal employees were notified hours before the company filed its quarterly earnings report with the Securities and Exchange Commission.
Dolan owns newspapers in 21 markets.
“In 2011, management committed to a plan of action to dispose of two of our smallest-market operating units within the Business Information Division,” the filing said. “We expect the sale of these assets to occur in 2012, and as such, have classified the results of the operations — including the impairment charges and certain exit costs, as discontinued operations.”