Timberwolves Owner Glen Taylor to Buy Minneapolis Star Tribune

Updated: 04/01/2014 10:28 PM
Created: 04/01/2014 8:01 PM
By: Stephen Tellier

It's the story of headlines meeting the hardwood.

The Minneapolis Star Tribune is being bought by the billionaire boss of the Minnesota Timberwolves.

The parties are not disclosing the price tag, but it's an all-cash deal. You can do that when you're worth about $1.8 billion, like Glen Taylor is.

"I'm very excited about it. It's a new area for me to be involved in, in the media," Taylor said.

Taylor made much of his money in the printing business. But he's never printed a newspaper.

"Let's first talk about what won't change, and that is that I'm going to go with the same management team that's there," Taylor said.

Taylor said despite his offer to buy Minnesota's most-read newspaper, he's going to be hands off -- no major changes to style or staff.

"I don't see myself getting involved in that, and my guess is that it will pretty well stay exactly the same way," Taylor said.

The one thing Taylor is touting is technology. He hinted the paper may work with some of his other companies to renew focus on that front.

"People want things quicker, more often. They want to hear about what's happening. Technology will change that," Taylor said.

"This is something that's been happening partly as a way to help preserve newspapers," said Michael Griffin, a media studies professor at Macalester College.

Griffin said the fact that Taylor is from Minnesota, and has big business interests in Minnesota, is a big positive. Griffin said Taylor is also unlikely to focus on prompt profits.

"I think a private owner like Glen Taylor is going to provide more financial stability for the Star Tribune, less chance of quick and radical changes," Griffin said.

Taylor is a former Republican state senator. But he said the newspaper's coverage should be determined by the views of the readers -- not the owner's personal political views.

The deal is not final just yet -- it's likely to become official in May.

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