David Black, who recently bought the Honolulu Advertiser, has joined those bidding for the Canwest dailies, The Globe and Mail reports.
If he succeeds, it would make him the largest newspaper-chain owner in Canada.
Black told the Globe that he is “convinced there is a profitable future for newspapers and that the current industry malaise is due to recession and heavy debt loads, rather than a fundamentally dead business model.”
He did not indicate how he would finance the bid, but suggested he has “significant backing.”
The Globe report notes that “officials close to the restructuring” believe there are six potential bidders.
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