Digital First Media wins bidding for Herald with $12M package
Digital First Media, a national newspaper chain that has earned a reputation for relentless cost-cutting, emerged as the winning bidder for the Boston Herald in a bankruptcy auction held Tuesday.
The Denver-based company, which is also known as MediaNews Group and is owned by New York investment firm Alden Global Capital, beat out two other bidders with a package that totaled nearly $12 million, according to the Herald’s law firm, Brown Rudnick.
The sale still needs to be approved by a bankruptcy court judge, who is expected to review the offer on Friday. The proceeds will be divided among the creditors through the bankruptcy process.
Advertisement:
