May 31, 2016 - 3:06 PM
SALT LAKE CITY - The Latest on The Salt Lake Tribune's sale to Paul Huntsman (all times local):
4 p.m.
New Salt Lake Tribune owner Paul Huntsman says he bought the newspaper to preserve an independent voice vital to the community, not necessarily to make money.
Huntsman wrote a letter to Tribune readers that was posted Tuesday outlining why he purchased the newspaper and that includes broad-stroke ideas about his plans (http://bit.ly/1UfFtA6 ). He will take over as publisher.
He calls the Tribune the state's "legacy guarantee of independent and, at times, adversarial thought." He vows not to allow the Tribune to be held hostage by "ideology, political persuasions, business pressure or particular dogma."
Digital First Media's sale of the Tribune to Huntsman closed Tuesday.
Also Tuesday, a group that sued over the altered terms of the joint operating agreement between the Tribune and Deseret News dropped the lawsuit, saying they are confident terms of the sale leave the newspaper on solid ground.
The Deseret News issued a statement congratulating Huntsman and Digital First Media on the deal.
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11:32 a.m.
A group that sued over altered terms of a joint operating agreement between The Salt Lake Tribune and Deseret News is dropping the lawsuit because the Tribune's sale to the Huntsman family leaves the newspaper on solid ground.
Group leader Joan O'Brien said Tuesday at a news conference the Tribune gets 40 per cent of profits in amendments to the agreement that also change language so the Deseret News no longer has total veto power over a new Tribune owner.
The Tribune's new share of profits is more than the 30 per cent it was given in the revised 2013 deal but still less than the 58 per cent it had had before.
Digital First Media's deal to sell the Tribune to Paul Huntsman is expected to close Tuesday. Full terms have not been not disclosed.
News from © The Associated Press, 2016