Wintry mix spreads across Minnesota

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Minnesota businessman Glen Taylor has offered to buy the Star Tribune. 

The billionaire owner of the Minnesota Timberwolves made a cash offer for the newspaper but declined to say how much he offered. However, Taylor told MPR News' All Things Considered he sees the purchase as a long-term investment.

 
"I've been buying companies over my lifetime, and we do not sell them. We put them together, and allow the management team and the employees to plan for the long run," Taylor said.

Taylor said he has no plans to take on a managerial role with the Star Tribune, and management would remain the same.


Taylor is currently scouring the newspaper's books in a process called due diligence.

 
"I think it's gooing to be a good business deal on my part. That means profitable. And I think it's a good Minnesota asset. This seems to be a pretty well-run paper. And I think we can take advantage of that," he said.
 

Taylor said it would be in the best interest of both the Star Tribune and the community for the company to have local, Minnesota ownership. Taylor expects the deal to close late next month.

Star Tribune CEO says possible sale would cause no immediate changes

Timberwolves owner Glen Taylor has a deal to buy Star Tribune

Timberwolves owner to buy Star Tribune?

Sports

Tom Crann

Author

The billionaire owner of the Minnesota Timberwolves made a cash offer for the newspaper but declined to say how much he offered.

Glen Taylor Q&A on Star Tribune deal

Glen Taylor, owner of the Minnesota Timberwolves

Taylor: Star Tribune bid a 'long-term investment'

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