This week Julie Greenbaum highlights industry news from RR Donnelley, Quad/Graphics (closing of Loveland, Colorado, plant; and closing of Enfield, Connecticut, plant), Transcontinental, Taylor Corp./Standard Register, Printing Impressions and Butler Street.
Complete Graphics won the Best of Show at the International Engraved Graphics Association’s 76th Annual Conference in Vail, Colorado.
Minnesota Timberwolves owner and printing company billionaire Glen Taylor completed his purchase of the StarTribune yesterday, the newspaper said.
Terms were not disclosed, but Taylor has put the purchase price at around $100 million, the StarTribune reported.
"As I've said before, the StarTribune is not only a good business, it's an important institution for all Minnesotans," Taylor said in a statement. "Our state and the region benefit from the presence here of a strong journalistic enterprise."
Glen Taylor’s effort to purchase the StarTribune moved forward yesterday with the signing of a purchase agreement between the Minnesota billionaire and the media company.
StarTribune Publisher Mike Klingensmith called the agreement an “important milestone” and said he expects the sale to close around June 30. “Work remains to be done, but we are increasingly confident of closing this transaction,” Klingensmith said.
Taylor has said he will pay around $100 million in the deal. He could not be reached for comment.
Commercial Printing Industry News Briefs from Printing Impressions’ May 2014 edition, including Standard Register, Gannett Co., Flint Group, Adman Printing, Taylor Corp., 4over Inc., Roosevelt Paper and Imprimerie Reflet.
Glen Taylor, the owner of the Minnesota Timberwolves and one of the wealthiest people in Minnesota, has made a formal bid to buy the Star Tribune, the Minneapolis newspaper confirmed Tuesday.
In a statement, Star Tribune Media Co. said Taylor had a letter of intent for Taylor to acquire the company and he was currently engaged in due diligence. Terms weren't disclosed, though a separate Star Tribune report said that Taylor's offer was all cash, without any other investors.
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.
Taylor Corp. and Minnesota Timberwolves owner Glen Taylor is close to a deal to buy the Star Tribune, according to a local report that cites unidentified "people in the know."
Taylor, who founded North Mankato-based Taylor Corp. in 1975, has tried before to buy a stake in the newspaper. He's worth $1.8 billion, making him the fifth-richest Minnesotan.
MANKATO, MN—Glen Taylor, a businessman whose holdings including commercial printer Taylor Corp. and professional basketball team Minnesota Timberwolves, once again checked in as one of the top 1,000 billionaires in the world, according to Forbes magazine.