Business Services Industry
Media Holdings Could be Added at Colorado Springs, Colo., Newspaper.
Knight Ridder/Tribune Business News, October, 2003
By Wayne Heilman, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
Oct. 16--By itself, a deal to keep The Gazette's corporate owner in family hands won't mean any changes for readers, the company's chief executive said.
Freedom Communications Inc., however, must increase its value to satisfy two new partners, and that might mean adding media holdings, CEO Alan J. Bell said.
Freedom announced an agreement Tuesday with New York-based Blackstone Communications Partners and Providence Equity Partners of Providence, R.I., to buy out members of the family that owns Freedom who wish to sell their stake. Members of the Hoiles family who keep their shares would retain control of company.
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