Star-Bulletin owner gets green light for purchase of Advertiser
By Rick Daysog
Advertiser Staff Writer
U.S. Justice Department has given Star-Bulletin owner David Black the go-ahead to purchase the Honolulu Advertiser.
The move paves the way for Black to merge the Star-Bulletin and the Advertiser, leaving Honolulu as a one newspaper town. The consolidation will likely result in mass layoffs at both newspapers.
"(The Justice Department) told us they are not going to stand in the way of David Black's purchase of The Advertiser," said Malia Zimmerman, who along with state Sen. Sam Slom has offered to purchase the Star-Bulletin.
Star-Bulletin Publisher Dennis Francis did not return calls.
Black's purchase of the Advertiser, which was announced in February, was contingent on him putting the Star-Bulletin for sale.
Zimmerman said today that Justice Department officials told her that their bid for the Star-Bulletin was below the minimum, liquidation price.
Texas private equity investor Brian Ferguson also submitted a bid for the Star-Bulletin.