The Wall Street Journal has the latest details on the auctioning off of Freedom Communications Inc., parent company of the Orange County Register. According to the newspaper, formal bids are due by tomorrow.
Even though Freedom recently emerged from bankrupcy, the breadth and depth of the company’s media holdings remain breathtaking: dozens of daily newspapers, five CBS stations, two ABC-TV affiliates, and more. Among the likely suitors is LA’s Alec Gores:
Gores Group, whose holdings include radio station operator Westwood One Inc., plans to make a bid for Freedom assets by Thursday, a separate person familiar with the matter said. Gores hasn’t decided on which assets to bid, and is “looking at all of it,” this person said.
Other bidders are thought to include the Tribune Co. and Media News, owner of the Denver Post. Bids can encompass the entire Freedom portfolio or portions of the empire, including just the Register.