That Was a Good Investment

From the Star Tribune:

A private equity firm has reached an agreement to buy the Star Tribune from the McClatchy Co., publisher Keith Moyer announced today.

Avista Capital Partners, an investment group focused on media, healthcare and energy companies, will pay $530 million for the newspaper, which Sacramento, Calif.-based McClatchy bought from Cowles Media Co. in 1998 for $1.4 billion.