Business Services Industry
Hearst Corp. Closes Deal with New Owners of San Francisco Newspaper.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, August, 2000 by Reed, Dan
Jul. 29--The San Francisco Examiner will live on, perhaps as a ghost of its former self, and perhaps in violation of antitrust law.
And the new owners of the San Francisco Chronicle will take over the paper in 120 days without a challenge after agreeing to pay up to $2.5 million to the man who tried to stop them.
In a flurry of activity that involved lawyers in bi-coastal negotiations for most of the day, Clint Reilly, the millionaire former campaign consultant who sued to stop the deals, turned away from his promise to try to overturn a judge's decision that allowed the Hearst Corp. to buy the Chronicle and give away the Examiner.
Friday afternoon, Hearst signed off on the giveaway. It will hand over the Examiner name, some printing equipment...
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