Maine newspaper acquisition moving forward

Posted Jan. 31, 2009, at 2 p.m.

PORTLAND, Maine — An investment group says it has found a lead investor for its acquisition of Blethen Maine Newspapers.

Richard Connor, the leader of Maine Media Investment LLC, says HM Capital Partners in Dallas will be responsible for putting together a financing package for the purchase of the company.

Connor tells the Portland Press Herald that he still needs to involve a bank in the deal and is in discussions with three Maine banks, but that he hopes to complete the acquisition within 30 days.

Blethen Maine’s assets include the Press Herald, the Kennebec Journal in Augusta and the Morning Sentinel in Waterville.

The Seattle Times Co., parent company of Blethen, announced plans last March to sell its Maine media holdings.

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