Landmark's Weather Channel, what many consider will fetch a handsome sum, is probably the catalyst for the potential sale since reports suggest it's worth $5 billion..
But Grimes thinks there are those sniffing around Landmark's 9 dailies and some 100 plus non-dailies. "My suspicion is that a couple of groups approached [Landmark] and said we'd like to buy this group of papers, would you sell them to us? Instead of saying yes, they went to financial advisers who suggested let's put it to an auction."
That kind of aggressive come-on has typified such acquisitive chains like GateHouse Media Inc. and Macquarie Media Group' American Consolidate Media
Thursday, January 03, 2008
GateHouse Media could be player in Landmark auction
GateHouse Media is expected to be one of the suitors when Landmark Communications is put up for auction. The auction includes not only more than 100 newspapers, including nine dailies, but the Weather Channel: