Monday, March 15, 2010

Honolulu Star Bulletin for sale

After losing more than $100 million in the last nine years, the owner of the Honolulu Star-Bulletin is calling it quits and looking for a buyer. Sort of.

Categorized as an "asset sale," the request for bids is part of a legal agreement for Oahu Publications, which owns the Star-Bulletin. Oahu Publications is in the process of purchasing crosstown rival The Honolulu Advertiser, and this sale is among the conditions put forth by the Department of Justice.

If the paper is not sold, the Star-Bulletin and Advertiser will merge into a single newspaper, called the Honolulu Star-Advertiser.

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