Taylor Corp. Owner Negotiating to Buy Newspaper
MINNEAPOLIS—Glen Taylor, owner of North Mankato, MN-based printing conglomerate Taylor Corp. and the NBA Minnesota Timberwolves franchise, is closing in on a deal to acquire the Star Tribune newspaper, the Minneapolis/St. Paul Business Journal reported.
Citing a report in the daily newsletter Business Take, Taylor has reportedly intensified negotiations, while another source suggested a deal has been reached in principle. The newspaper's majority owner is Wayzata Investment Partners, a private equity firm.
The Business Journal said that Taylor has made previous efforts to purchase a stake in the Star Tribune. Neither party could be reached by the Business Journal for comment.