Friday, May 19, 2006

Singleton to buy a home in Bay Area

Dean Singleton, who will control most the daily newspapers in the Bay Area in two months, is shopping for a second home in the Bay Area. He wouldn't tell reporters from the Mercury News where he is buying a house, however. He said he will continue to maintain a residence in Denver, where his family will remain. "I'm not leaving Denver, but I expect to spend a lot of time in the Bay Area for the foreseeable future,'' he told the Merc. "I can't imagine doing this and not wanting to go out there and be part of it.'' In July, Singleton hopes to close a $1 billion deal in which his MediaNews will acquire a controlling interest in the Merc, Contra Costa Times, Monterey Herald and St. Paul (Minn.) Pioneer Press. To fund the deal, Singleton has entered into a partnership with the Hearst Corp., owner of the SF Chronicle. The Bay Area dailies already owned by MediaNews are the Argus Leader, Hayward Daily Review, Marin Independent Journal, Oakland Tribune, Pleasanton Tri-Valley Herald, San Mateo County Times, Vacaville Reporter and Vallejo Times Herald.

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