(AP) — An Oregon media group with local backers was the highest bidder for The Bulletin and Redmond Spokesman newspapers Monday, offering $3.65 million for the pair of Central Oregon publications.
The Bulletin reported that EO Media, or East Oregonian Publishing, outbid Adams Publishing Group in the auction at the offices of Tonkon Torp LLP in Portland. A group of Bend investors contributed an undisclosed amount to the effort and will be minority owners. The Bend Foundation, formed by the Brooks-Scanlon Lumber Co. is one of the backers.
Michael Fletcher, attorney for The Bulletin’s parent company, Western Communications, said a previous bidder, Rhode Island Suburban Newspapers Inc., did not participate in the auction.
Heidi Wright, COO of EO Media says the sale will give the papers a fresh start and she doesn’t expect to make any major changes to the Bulletin’s print product. The two papers employ nearly 120 people.
Judge Trish Brown in U.S Bankruptcy Court for the District of Oregon approved the sale, which is expected to close at the end of August.
The future of the The Bulletin’s building remains unclear. The 86,445-square-foot property at 1777 SW Chandler Ave. has an $18 million price tag and has been listed by Compass Commercial since May. Compass Commercial Partner Graham Dent says they’ve had several offers and could soon have an announcement on the sale.