Tribune Co. is selling its Stamford Advocate and Greenwich Time newspapers to Hearst Corp. for $62 million. The deal does not include the newspapers”™ real estate, which Tribune plans to sell separately.
Under an existing partnership with Hearst, MediaNews Group Inc. will manage the newspapers.
Hearst and MediaNews also own the Connecticut Post and Danbury News-Times, prompting a statement by Connecticut Attorney General Richard Blumenthal that his office plans to investigate “the potential impact in reducing economic choices and outlets for consumers and advertisers in southeastern Connecticut.”
Gannett Company Inc., which owns the Journal News in Westchester County, N.Y., canceled plans to acquire the Advocate and Time this past summer after a union intervened on behalf of newsroom employees.
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