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January 8, 2008

Times Record bond request challenged

Sample News Group, the buyer of The Times Record in Brunswick, has met opposition in its attempt to net a $7 million bond from the state finance authority to purchase the building housing the paper.

Representatives from other Maine newspapers spoke out against the Finance Authority of Maine awarding a bond to Sample News Group at a public hearing last week, saying the bond would give The Brunswick Publishing Co., parent company of The Times Record, an unfair advantage, The Times Record reported. Representatives from the Kennebec Journal in Augusta, the Central Maine Morning Sentinel, and the Coastal Journal, argued that the tax-exempt bond would allow the publishing company to unfairly offer lower printing rates to its customers. The Finance Authority of Maine will continue to accept input from the public on the bond application until Friday.

Pennsylvania-based Samples News Group, which also owns the Biddeford Journal Tribune, announced in December it would acquire the publishing assets of The Brunswick Publishing Co. The sale is expected to close in late February.

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