MESA, AZ -- The publisher of the East Valley Tribune in the Phoenix suburb of Mesa says a buyer has made an offer that would keep the paper and its Web site in business.
Publisher Julie Moreno told Tribune staffers on Friday that Irvine, Calif.-based Freedom Communications received a letter of intent to purchase the paper, which Freedom planned to close on Dec. 31. Moreno says she understands the buyer's intent is to continue publishing and keep a "substantial number" of the 140 employees.
Freedom will seek approval from a bankruptcy judge to complete the sale by the end of the year.
Freedom operates 33 daily and 77 weekly newspapers, including the Orange County (Calif.) Register and two dailies in Arizona, the Daily Sun-News in Sun City and The Sun in Yuma.
A top executive of Freedom said Thursday that the company hoped someone would step forward to buy the Tribune newspapers and keep the Mesa edition alive.
The paper in Mesa went from a daily to a four-day-a-week, free publication in January. In April, it dropped to three days a week. About 40 percent of the staff was cut because of the changes.
About 140 employees now work at the Tribune. Publisher Julie Moreno says they will be offered severance packages and some jobs may be available in other parts of the company.
“Because of its impact on our employees and the communities we serve, this is probably the most difficult decision a company can make. But ultimately, after considering all available options, this is the best alternative for our company financially given the continued recession and many challenges facing our industry,” said Osborne.
Read the East Valley Tribune's story about their closure
