SALT LAKE CITY — A son of wealthy industrialist Jon Huntsman Sr. has agreed to buy The Salt Lake Tribune, ending uncertainty about the future of Utah’s largest independent newspaper.
Digital First Media, owner of The Denver Post, reached an agreement to sell the newspaper to Paul Huntsman, the company announced in a news release Wednesday. Terms of the deal were not disclosed.
Huntsman’s purchase fits an emerging ownership trend in the newspaper industry of wealthy business figures buying publications because they value their civic importance, said media analyst Ken Doctor.
In recent years, Amazon founder Jeff Bezos bought The Washington Post; Boston Red Sox owner John Henry purchased the Boston Globe; and Minnesota Timberwolves owner Glen Taylor bought the Minneapolis Star Tribune.
The timing of the Salt Lake Tribune sale comes as somewhat of a surprise, but it was known that the Huntsman family was interested in the newspaper.
“It is important that The Salt Lake Tribune continues in its indispensable role for our community and to be locally owned,” Paul Huntsman said.
