Seems like an unusual time to be putting your newspaper on the block - buy low, sell high and all that - but the parent of the Union-Tribune has hired investment banker EverCore Partners to start beating the bushes. Copley Press cited tough times as behind the decision to consider selling. “We have every reason to believe the business will rebound with the economy, but the uncertainties pose too great a risk to sit still,” said Harold Fuson Jr., executive vice president of the privately held Copley Press, in a statement. Copley, of course, sold the Daily Breeze and shuttered the Evening Outlook (seems like a zillion years ago). From the well-scrubbed U-T story:
Fuson said that despite the challenges faced by the newspaper industry, “The Union-Tribune's combined newspaper and Web site readership is very strong, reflecting the central role its news coverage will continue to play in the life of our region. “Home delivery subscribers are holding steady and constitute an indispensable resource for advertisers,” Fuson said.