Digital First Media sells The Salt Lake Tribune to Paul Huntsman
The sale price has not been disclosed, but a source told the SLT that the transaction was contingent on an end to several legal actions regarding The Tribune’s partnership with the Deseret News
DENVER, Colo. – April 20, 2016 — Digital First Media announced today that it has entered into a definitive agreement to sell The Salt Lake Tribune and its Affiliates (the “Tribune”) to Paul Huntsman, son of businessman and philanthropist Jon M. Huntsman, Sr. Terms of the transaction were not disclosed.
Headquartered in downtown Salt Lake City, The Salt Lake Tribune has been Utah’s independent news source since 1871 and covers local and national news, entertainment, sports and weather for the state of Utah. In 2015, the Tribune had an average paid distribution of 74,000 printed newspapers daily (excluding Sunday) making it the highest distributed daily newspaper in Utah. The Tribune also operates an online publication at www.sltrib.com.
“We are honored to be stewards of The Salt Lake Tribune,” said Paul Huntsman. “It is important that The Salt Lake Tribune continues in its indispensable role for our community and to be locally owned. We hope to ensure the Tribune’s independent voice for future generations and are thrilled to own a business of this quality and stature.”
“Over the last 18 months, it has been a pleasure to work with Digital First Media to construct a transaction that would secure the long-term viability of The Salt Lake Tribune. This has been the key focus for all parties. We acknowledge the invaluable assistance of Dean Singleton, former publisher of The Salt Lake Tribune, and Jay Shelledy, former editor of The Salt Lake Tribune, and thank them for their continuing counsel and support in this transaction.”
“We have great respect for Paul Huntsman and the Huntsman family,” said Steve Rossi, the CEO of Digital First Media. “The Salt Lake Tribune will be in the hands of strong local management. We wish Paul Huntsman, the Huntsman family and our partners at the Deseret News the best.”
About Paul Huntsman
Paul Huntsman is the Chief Executive Officer of Huntsman Family Investments, the private investment platform for the Jon M. Huntsman, Sr. family. Headquartered in Salt Lake City, Utah, Huntsman Family Investments seeks to make direct, long-term investments in diversified industries around the globe. For more information, please visit www.hfinvestments.com. Paul has managed and served on the boards of directors of multiple global businesses throughout the United States, Asia, and Australia. He received his B.A. from the University of Utah, and his M.B.A. from the Wharton School, University of Pennsylvania.
*Huntsman Corporation (NYSE:HUN) is not affiliated with this transaction.