Save this content for laterSave this content on your device for later, even while offline Sign in with FacebookSign in with your Facebook account Close

Colorado Springs-led group raising funds to try to buy The Denver Post

April 12, 2018 Updated: April 12, 2018 at 6:39 pm
0
Caption +
Colorado Springs-led group raising funds to try to buy The Denver Post

A local group led by the owner of the Colorado Springs Independent and the Colorado Springs Business Journal is attempting to raise money to buy the beleaguered Denver Post, with investors pledging $10 million so far.

John Weiss, the chairman of Together for Colorado Springs, confirmed his interest in putting together a group to purchase the newspaper during a panel discussion at the annual conference of the Colorado Press Association.

While not confirming names, Weiss said he's met with Colorado Springs' versions of Jeff Bezos.

"We don't have a vision. ... We just said, 'We're not going to sit by,'" he said.

Weiss said he is meeting with investment bankers next week.

"The Denver Post is profitable. They're just sending the money to New York and Connecticut," he said, referencing Alden Global Capital, the New York hedge fund that owns The Denver Post.

It's unknown if Alden Global Capital plans to put the paper up for sale, or how much the newspaper is worth.

The Denver Post was ordered last month to slash another 30 jobs from its newsroom in the latest cutbacks that have seen it shed more than half of its news-gathering staff since Alden bought the chain that owns the Post in 2010.

The Post's Editorial Board responded Sunday to the hedge fund's constant layoffs despite the newspaper being highly profitable with a plea to its owners to sell to someone who cares about journalism, rather than continue to degrade its ability to cover Denver and state news.

"Denver deserves a newspaper owner who supports its newsroom. If Alden isn't willing to do good journalism here, it should sell The Post to owners who will," the board wrote.

The Resurrect the Denver Post Exploratory Committee includes environmental attorney Perry Sanders and Florida attorney John Goede, who co-own the Antlers and Mining Exchange hotels in Colorado Springs, The Denver Post reported.

-

The Gazette's Jerry Herman contributed to this report.

Register to the Colorado Springs Gazette
Incognito Mode Your browser is in Incognito mode

You vanished!

We welcome you to read all of our stories by signing into your account. If you don't have a subscription, please subscribe today for daily award winning journalism.

Register to the Colorado Springs Gazette
Subscribe to the Colorado Springs Gazette

It appears that you value local journalism. Thank you.

Subscribe today for unlimited digital access with 50% fewer ads for a faster browsing experience.

Already a Subscriber? LOGIN HERE

Wake up with today's top stories in your inbox

Wake up with today's top stories in your inbox

or
Already a print subscriber?
Already a digital subscriber?
 
This is your last FREE article for the month
This is your last FREE article for the month

Subscribe now and enjoy Unlimited Digital Access to Gazette.com

Only 99 cents for Unlimited Digital Access for 1 month
Then $2.31/week, billed monthly, cancel anytime
Already a print subscriber?
Already a digital subscriber?

 
You have reached your article limit for the month
You have reached your article limit for the month

We hope that you've enjoyed your complimentary access to Gazette.com

Only 99 cents for Unlimited Digital Access for 1 month
Then $2.31/week, billed monthly, cancel anytime
Already a print subscriber?
Already a digital subscriber?
 

Exclusive Subscriber Content

You read The Gazette because you care about your community and the local stories you can't find anywhere else.

Only 99 cents for Unlimited Digital Access for 1 month
Then $2.31/week, billed monthly, cancel anytime
Already a print subscriber? Get Access | Already a digital subscriber? Log In
 
articles remaining
×
Thank you for your interest in local journalism.
Gain unlimited access, 50% fewer ads and a faster browsing experience.