Thursday, April 19, 2012

[UPDATED] BREAKING: The San Francisco Examiner Closes in on Purchase of San Francisco Bay Guardian

By Rachel Swan
Thu, Apr 19, 2012 at 4:59 PM

The owners of the San Francisco Examiner are on the cusp of buying the San Francisco Bay Guardian. Bay Guardian Executive Editor Tim Redmond told the Express this afternoon that he's "very optimistic" the deal will be inked soon. "I think we'll probably sign a deal, but it's not yet done," he said.

Earlier, two sources told the Express that the sale had been finalized. But Redmond said that while the deal is close, it's not yet complete. "We're in negotiations, and we're very optimistic," he said.

Known as the oldest alt-weekly in the Bay Area, the Bay Guardian was founded in 1966 and has been a vociferous defender of progressive politics for several decades. The Examiner, originally founded by the Hearst family, was recently purchased by a group of local investors under the moniker San Francisco Newspaper Company LLC.

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Redmond said that the Bay Guardian has been searching for a buyer for some time, and that the paper has been negotiations for a while with the owners of the Examiner. "We've been pursuing buyers," he said.

Officials from the Examiner have not yet responded to our inquiries. But the Examiner's president and CEO Todd Vogt downplayed the news of the pending sale to the SF Weekly, saying the Guardian's optimism was "optimistic."

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