The Publisher's Desk

What kind of a deal is this really?

I’ve heard it was losing 50 million a year;  I’m not sure it was a steal.
 
David
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What A Deal in Tampa as Media General Exits Newspapers Biz
WBG Notes: Revolution got a steal in Tampa.  For MG shareholders, looks like you got the opposite.  Media General has sold the Tampa Tribune and its associated products to Tampa Media Group, a new company formed by Revolution Capital. The sale price was $9.5 million. “It’s a bittersweet day for Media General to complete the sale of its last remaining newspaper.”

Robert Loring, founder and managing partner of Revolution Capital Group, said, “We are delighted to be the new owner of The Tampa Tribune, a newspaper with strong brand equity and a long history of serving its readers, advertisers and community exceedingly well. We believe strongly in the value of local content.”

 
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