PORTLAND (AP) – A group trying to buy Blethen Maine Newspapers has suggested to a potential investor that the real estate alone is close to the “bargain-basement price” negotiated with The Seattle Times Co.
Projections contained in a presentation prepared for Maine Public Employees Retirement System trustees indicates two-thirds to 100 percent of the purchase price reflects the value of real estate.
City tax assessments indicate the Portland Press Herald, Kennebec Journal in Augusta and Morning Sentinel in Waterville properties are worth nearly $30 million.
The Portland Press Herald quotes Richard Connor as saying the documents contained only talking points in a fluid situation. Connor, who’s editor and publisher of the Times Leader in Wilkes-Barre, Pa., has been leading a group trying to put together a deal since July.
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