Digital First Media Announces Denver Post
Selling Company’s Stake in Colorado Rockies
Retains Park Lane to Advise on Sale
New York, NY (November 7, 2012) – Digital First Media, which operates MediaNews Group, Journal Register Company and Digital First Ventures, today announced The Denver Post is actively marketing its minority ownership share of the Colorado Rockies Major League Baseball team.
“Since coming under the management of Digital First Media in the fall of 2011, MediaNews Group has pursued a Digital First strategy focusing on its core competencies of content creation and advertising sales on multiple platforms. As part of that strategy, the Company has conducted a thorough review of its assets with a viewing to exit any activities that do not focus on those core competencies,” said John Paton, Chief Executive Officer of Digital First Media.
The Post owns approximately 7.3% of the Rockies, which joined Major League Baseball in 1991.
“Given the recent increases in market value of Major League Baseball teams, we have engaged Park Lane to seek potential buyers of our interest in the Colorado Rockies,” said Ed Moss, President and CEO of the Denver Post and Executive Vice President of Digital First Media. “At the right value, we would sell the interest. If we do not receive that value, we would be happy to continue to hold our interest in the Rockies.”
Park Lane, a sports-focused investment bank based in Los Angeles, and Katten Muchin Roseman LLP, a prominent sports law group, will field offers for the Post’s ownership position in the Colorado Rockies.
About Digital First Media
Digital First Media (www.DigitalFirstMedia.com) is headquartered in New York City, and jointly manages MediaNews Group and Journal Register Company. Digital First Media reaches 61.5 million Americans each month through more than 800 multi-platform products across 18 states.
About MediaNews Group, Inc.
MediaNews Group, Inc. (www.medianewsgroup.com) is the nation’s second largest newspaper company as measured by circulation, with headquarters in Denver, Colorado. MediaNews Group and its affiliated companies publish 57 daily newspapers and more than 100 non-daily publications in 11 states.
About Journal Register Company
Journal Register Company is a leader in local news and information in 10 states. The Company’s more than 350 multi-platform products reach an audience of 21 million people each month. For more information visit the company website at www.JournalRegister.com.
About Digital First Ventures
Digital First Ventures (DFV) is focused on helping media entrepreneurs incubate, accelerate and validate their start-up companies in the news, content, sales and audience development space. As a division of Digital First Media – which operates more than 800 media products serving 61.5 million customers each month and annual revenues of more than $1.4 billion – DFV is ideally suited to accelerate value creation for media start-ups.
For more information contact:
Vice President Media Relations & Employee Communications
Digital First Media