The tough times for the newspaper industry hit home again this week. McClatchy company announced they would sell the Star Tribune of Minneapolis, their flagship paper, to Avista Capital Partners, a group of investors. The price -- $530 million. That's about half the $1.2 billion McClatchy paid for the paper in 1998.
The news caps a turbulent year in the newspaper business, which saw the sale of the Knight Ridder Newspaper group to McClatchy. McClatchy then spun off the St. Paul Pioneer Press to MediaNews group.
MPR's Tom Crann talked with media analyst David Brauer about the future of the Twin Cities' daily papers.