With the Sacramento Bee on the chopping block due to McClatchy’s bankruptcy, another local publisher has offered to buy the historical daily newspaper for $1 after city Mayor Darrell Steinberg said he’s looking for investors.
“We must save the Sacramento Bee, this is a vital civic asset,” said Steinberg, announcing a challenge to get investors to purchase the paper.
“We would be looking for a person or a foundation that had the means to be able to buy the Bee, but also who had the commitment to enhancing the role of independent journalism in the Sacramento area,” Steinberg said.
Huey P. “Navin” Newsom, the disowned nephew of California Pope Gavin Newsom, who owns and operates the Sacramento Brie, said he’d take one for the team.
“We’ll buy the Bee for a dollar if my uncle doesn’t sabotage the deal,” said Newsom, apparently referring to the 2010 sale of Newsweek. “But Steinberg will have to keep the debt because that’s all government is good at anyway.”
I’ll bid $1.01! My only requirements are that Steinberg keep the debt and they finance the deal with a negative interest loan.
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