Gannett sells the Oakland Tribune to its black publisher
For scores of America's locally owned newspapers, death and estate taxes have led to another apparent inevitability: sale to a chain. Last week, however, the 109-year-old Oakland (Calif.) Tribune (circ. 174,000) reversed the trend. Gannett, the nation's biggest newspaper group (86 dailies), sold the money-losing Tribune to Journalist Robert Maynard, 45, who is, like 47% of Oakland's residents, black. Said Gannett Chairman Allen Neuharth: "We had other prospective buyers, but we felt it desirable for the community to have a dedicated local owner."
New Owner...
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