Popular Central Maine Newspapers Could Soon Be Sold
One of the really unique things about media companies is that they sometimes report on news about themselves.
That's exactly what happened this morning.
According to the KJ, Reade Bower, who owns several papers across the state, including the Kennebec Journal, has been in talks with a new Maine non-profit known as the Maine Journalism Foundation.
Bower has reportedly been considering making a change for some time. According to the article, back in March, he had sent a letter to employees of the company explaining that he was looking for a way to transition away from being the sole leader of Masthead Maine. He hoped to either sell the company or to take on new partners.
Masthead Maine currently owns and operates the Kennebec Journal, Morning Sentinel, Lewiston Sun Journal, Portland Press Herald, and several dozen weekly papers.
A former newspaper columnist named Bill Nemitz made the announcement about the possible sale on Sunday (April 24th). He explained that the newly formed non-profit was attempting the raise the $15 million needed to purchase the properties.
The article goes on to explain that, while Bower and the Maine Journalism Foundation have had preliminary discussions, they have yet to engage in any formal negotiations.
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