Clock starts ticking on Tribune sale

The clock began ticking again today on the 120-day closing period for former managers of the Salt Lake Tribune to purchase the newspaper.

U.S. District Judge Ted Stewart on Thursday vacated a stay he issued on the closing period in July when only eight days remained. Closing is now anticipated on Oct. 10, unless former managers persuade Stewart to again put off the date while they appeal a number of recent rulings from Stewart.

Salt Lake Tribune Publishing Co. challenged a final $331 million appraisal of the newspaper, which sets the final purchase price of the Tribune at $355.5 million. Stewart upheld the valuation this week, and SLTPC attorneys vowed to appeal that decision to the 10th U.S. Circuit Court of Appeals.

SLTPC attorney Gary Bendinger has also said he will ask the federal appeals court to put off a closing until the matter is resolved.

William Dean Singleton, CEO of new Tribune owner MediaNews Group Inc., has said if former managers show up at the closing with the full $355.5 million, he will sell them the newspaper. But he believes they do not have the money.

Trial in the ongoing ownership battle is scheduled to begin Nov. 3.

Sale of the Salt Lake Tribune - Read Deseret News' archive stories and see related links about the sale of the Tribune.