“Wealthy Hawaiians” Part of the Honolulu Advertiser Acquisition by David Black… Eh?

An interesting article by David Ebner of The Globe and Mail entitled “David Black, a true believer amid cries of doom” has some interesting stuff about the StarBulletin’s owner, David Black’s  intentions of the local newspapers more then a year ago.

“…Squaring his shoulders, he aimed to take on the rival Honolulu Advertiser, 50 per cent larger and owned by Gannett Co., the largest U.S. newspaper publisher. While gains were made, profits were not. So last year Mr. Black sat down with his minority owners, a sextet of wealthy Hawaiians, and convinced them of an unlikely last move: Buy the Advertiser…”

If this is true, than he has basically been stringing along the StarBulletin folks for a long time now!

Anyone know who these “wealthy Hawaiians” are?

The article later goes on to say:

…As he consolidates a losing position in Hawaii, Mr. Black (no relation to the onetime newspaper baron now jailed in Florida) pursues far grander ambitions in Canada. Black Press is one in a group of five bidders in the $1-billion-plus auction of CanWest LP’s 46 newspapers, which is to be settled within a month…

So I’m not sure what this really means, but it sure seems like he’s squeezing the Hawaii market to venture and profit more in Canada… Eh?

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