Phil Anschutz to Sell the San Francisco Examiner
|Does this mean they will stop endorsing Tea Party Republicans?|
Phil Anschutz, the evangelical media mogul, announced that his Denver-based company has agreed to sell the Ex to Black Press Group Ltd -- a Victoria, British Columbia-based operator of about 100 newspapers and related websites in the U.S. and Canada.
Anschutz bought the Examiner in 2004 with the intention of distributing free newspapers in the Bay Area while relying solely on advertising for revenue. The paper became known for its short and plucky local coverage and conservative opinion pieces out of step with liberal San Francisco.
"As Clarity Media Group focused increasing resources on the Washington, D.C. market -- with expansion of the Washington Examiner, the Weekly Standard, as well as the parent company's recent acquisition of The Oklahoman, it became clear that owning a single newspaper asset on the West Coast was no longer consistent with our evolving business plan," Ryan McKibben, CEO of Clarity Media Group, said in a statement. "Therefore, when the Black Press organization approached us about a sale, we determined they were the right fit for Examiner, and this was the right time to initiate the transaction."
The sale is expected to close on Nov. 30. Details of the sale were not released.