Jon Huntsman Sr.’s declared effort to buy the Salt Lake Tribune has stalled, the paper reported over the weekend.
In an anonymously sourced story, the Tribune wrote that its Joint Operating Agreement partner, the Mormon church-owned Deseret News has exercised an option to block the deal.
I wrote in July about the contentious fight over the Tribune’s future. Huntsman, father of the 2012 presidential candidate and believed to be the richest man in Utah, declared in July 2014 that he hoped to acquire the paper and put it under local control.
Meanwhile, Deseret renegotiated the terms of the JOA, paying the Tribune about $20 million in exchange for a higher percentage of any future profits and veto power over any potential buyer. A citizens’ group has filed suit seeking to invalidate the new agreement. Read more