Newspaper seeks buyer for stake in Rockies
DENVER (AP) -- The Denver Post is seeking to sell its minority ownership in the Colorado Rockies.
The Post holds a 7.3 percent state in the major league baseball club that is majority owned by brothers Dick and Charlie Monfort.
Ed Moss, CEO of the Denver Post, said Digital First Media, which operates MediaNews Group, owner of the newspaper, is seeking to sell the minority stake in the Rockies as the Post focuses on core print and digital business.
He added, "If we don't get what we think would be a fair value, we are certainly happy to keep our interest."
Forbes magazine recently valued the franchise at $464 million, which would put the newspaper's stake at more than $33 million.
(Copyright 2012 by The Associated Press. All Rights Reserved.)