Digital First Media will explore sale of papers
Digital First Media has hired UBS Securities LLC to help it determine what it calls "strategic alternatives for the Company’s business." That could involve a sale of some or all of the company's news products, which include 76 daily papers and 160 weekly publications.
The Denver Post headlines the news a bit less gingerly: "Denver Post, other Digital First Media newspapers, for sale." (Here's a list of DFM properties.)
"As employees, the best thing we can do while this review is underway is to keep doing what we have been doing best these past years – producing unsurpassed local journalism; serving our customers’ needs and continuing to boldly experiment with our digital future," DFM CEO John Paton tells employees in a memo.
DFM has already put the buildings in which many of its publications are based on the market.
The company won't set a deadline for the sale or report any developments "until the Board has determined whether it will proceed with one or several transaction(s), or otherwise concludes its review," a news release says.