A long-running dispute to determine an appraised value for The Salt Lake Tribune will return to a Utah district court for trial, the 10th U.S. Circuit Court of Appeals in Denver ruled Wednesday.
The three-judge panel ruled that The Tribune’s former owner, the McCarthey family, is entitled to a court review of the $355.5 million price set in its bid to buy back the paper from Denver-based ap Inc. MediaNews, which also owns The Denver Post, bought the Salt Lake paper for $200 million in 2001 from AT&T.
“I have no doubt the court will find in our favor,” said Jody Lodovic, president of ap. “At the end of the day, this (Wednesday’s ruling) will just drag this out.”
Lawyers for the McCarthey family couldn’t be reached for comment.
The McCarthey family, attempting to regain control of the paper it sold in 1997, contends in court filings that appraiser Management Planning Inc. did not comply with its contract and offered an inflated price.
MPI was called in to offer its appraisal after two prior estimates differed greatly.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
