MINNEAPOLIS (AFX) - The Star Tribune, the flagship newspaper of the McClatchy Co., said Tuesday it is being sold to a private equity firm for $530 million.
McClatchy said it decided to sell the newspaper to Avista Capital Partners through a private bidding process 'after a strategic reevaluation of its portfolio of holdings' following McClatchy's purchase of Knight Ridder for $4.5 billion earlier this year.
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