The Portland Newspapers throughout most of the 20th century were the cornerstone of Guy Gannett Communications's media holdings. In 1998, the local owner sold the papers to Blethen Maine Newspapers, part of the Seattle Times family of newspapers, owned by the Blethen family, which has Maine roots but is now based in Washington.
On Monday, March 17, 2008, the Press Herald released a smaller, 2-section newspaper (in contrast to its traditional 4+ section paper). A brief editorial highlighted advertising concerns and said the other sections could be found online. The next day, The Seattle Times Company, parent company of Blethen Maine Newspapers, announced that it was putting the Press Herald and its other Maine newspaper properties up for sale.
After more than a year on the market, the papers were sold to MaineToday Media, Inc, headed by Richard L. Connor, publisher of The Times Leader in Wilkes-Barre, Pennsylvania on July 15, 2009. Mr. Connor received financing from HM Capital Partners and Citizen's Bank. It was announced the next day that the newspaper's downtown buildings would be put up for sale and that the majority of the paper's offices would be moved to the printing plant in South Portland.[5] It was later reported that the company's headquarters would move to One City Center in downtown Portland.
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