The Maine Wire
  • News
  • Commentary
  • The Blog
  • About
    • Contact
  • Investigations
    • Data
  • Donate
Facebook Twitter Instagram
Trending News
  • Four Arrested in Brooks Drug Bust After Months-Long Investigation
  • Mills Wants to Keep the Door Open for “Future Generations” to Seize Tribal Lands
  • All Maine School Boards Have Just Over a Year to Decide on Their Student Cell Phone Use Policies
  • Nukes and Cukes: In Negotiating with Iran, the Patient and the Determined Always Have the Edge
  • Supreme Court Hands Trump Admin Victory On Efforts To Deport ‘Worst’ Illegal Migrants
  • Oxford Senator Rick Bennett Sheds GOP to Run for Maine Governor as an Independent
  • Three More Mills Vetoes – Tribal Eminent Domain, LGBTQIA+ Recovery Housing, Ferry Power Grab
  • China Tries Getting Rich In America’s Backyard
Facebook Twitter Instagram
The Maine Wire
Wednesday, June 25
  • News
  • Commentary
  • The Blog
  • About
    • Contact
  • Investigations
    • Data
  • Donate
The Maine Wire
Home » News » News » Finalized Maine Today Media deal results in Sussman owning 75% of paper
News

Finalized Maine Today Media deal results in Sussman owning 75% of paper

Steve RobinsonBy Steve RobinsonMarch 27, 2012No Comments2 Mins Read
Facebook Twitter Email LinkedIn Reddit
Share
Facebook Twitter LinkedIn Email

What was supposed to be a 3.3 million dollar “loan” and a 5% share in equity of Maine Today Media has turned into a 75% ownership stake in the Maine paper by Donald Sussman, the husband of congresswoman Chellie Pingree. 

Sussman, the billionaire hedge fund manager and prolific democrat funder, has pledge his political affiliations, marriage to Congresswoman Pingree, and support of liberal ballot initiatives won’t have an impact on how the paper reports. “They report the news thoroughly and fairly, and I’m not going to interfere with that in any way,” Sussman said in an article that appeared in his Portland Press Herald paper. “I’m a businessman, not a newspaper editor,” he said.

Sussman was recruited to purchase the paper by the Portland Newspaper Guild, the union for the company. A NewsGuild.org article quoted Local Vice President Greg Kesich saying, “It was the longest of long shots, we got a message to him that the paper was in trouble, and that we were a forward-looking, progressive union that was determined to save it.”

Initially, the response was the $3.3 million “loan” that was supposed to give Sussman and his Maine Values, LLC company a 5 percent equity stake in the company. However, Sussman’s Press Herald reported today that, “The financial structure changed…during final negotiations.”

Previous ArticleInvestigators contacted King's wind company days before report released
Next Article Maine Reporters’ Training Funded by Pro-ObamaCare Group
Steve Robinson
  • Twitter

Steve Robinson is the Editor-in-Chief of The Maine Wire. ‪He can be reached by email at Robinson@TheMaineWire.com.

Subscribe to Substack

Related Posts

Four Arrested in Brooks Drug Bust After Months-Long Investigation

June 24, 2025

Mills Wants to Keep the Door Open for “Future Generations” to Seize Tribal Lands

June 24, 2025

All Maine School Boards Have Just Over a Year to Decide on Their Student Cell Phone Use Policies

June 24, 2025

Comments are closed.

Subscribe to Substack
Recent News

Four Arrested in Brooks Drug Bust After Months-Long Investigation

June 24, 2025

Mills Wants to Keep the Door Open for “Future Generations” to Seize Tribal Lands

June 24, 2025

All Maine School Boards Have Just Over a Year to Decide on Their Student Cell Phone Use Policies

June 24, 2025

Supreme Court Hands Trump Admin Victory On Efforts To Deport ‘Worst’ Illegal Migrants

June 24, 2025

Oxford Senator Rick Bennett Sheds GOP to Run for Maine Governor as an Independent

June 24, 2025
Newsletter

News

  • News
  • Campaigns & Elections
  • Opinion & Commentary
  • Media Watch
  • Education
  • Media

Maine Wire

  • About the Maine Wire
  • Advertising
  • Contact Us
  • Submit Commentary
  • Complaints
  • Maine Policy Institute

Resources

  • Maine Legislature
  • Legislation Finder
  • Get the Newsletter
  • Maine Wire TV

Facebook Twitter Instagram Steam RSS
  • Post Office Box 7829, Portland, Maine 04112

Type above and press Enter to search. Press Esc to cancel.