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O.C. Register's potential buyers
Irvine-based Freedom Communication Inc.'s local newspaper is of interest to two O.C. businessmen.
By Kristen SchottPublished: September 15, 2008 10:46 AM
In a time of economic uncertainty, newspapers both local and national are facing changes – downsizing, selling, etc. In a sign of the times, the Orange County Register may be one of those companies.
George Argyros, who made his money working in real estate investments, and Lawrence M. Higby, CEO of Apria Healthcare Inc. (and former chairman of Los Angeles Times Orange County Edition), have voiced interest in the newspaper. They have had preliminary discussions regarding bids for the paper, according to media reports.
These talks come after some major changes at the Register in the last year: three rounds of layoffs, fewer pages and other restructuring to deal with slowing circulation.
If the O.C. Register were indeed to be sold, Raymond Cyrus Hoiles' kin would no longer run the paper, and Freedom would be under a large change, just a few years after a family dispute caused Blackstone Group and Providence Equity Partners to buy a small stake in the company.
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George Argyros, who made his money working in real estate investments, and Lawrence M. Higby, CEO of Apria Healthcare Inc. (and former chairman of Los Angeles Times Orange County Edition), have voiced interest in the newspaper. They have had preliminary discussions regarding bids for the paper, according to media reports. These talks come after some major changes at the Register in the last year: three rounds of layoffs, fewer pages and other restructuring to deal with slowing circulation. If the O.C. Register were indeed to be sold, Raymond Cyrus Hoiles' kin would no longer run the paper, and Freedom would be under a large change, just a few years after a family dispute caused Blackstone Group and Providence Equity Partners to buy a small stake in the company. |
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