Moyer announces he’ll leave Star Tribune publisher postMinneapolis/St. Paul - (February 16, 2007) - J. Keith Moyer, publisher and president of the Star Tribune, announced today that he will leave the company when ownership changes from The McClatchy Company to Avista Capital Partners.
Moyer, 54, speaking to Star Tribune employees today, said: “I am not leaving because of the change of ownership. In fact, I believe the Star Tribune, as it was under McClatchy, is going to be in excellent hands with Avista. I like very much the people who have bet on a bright future for each of you and this company with their considerable investment dollars.” Moyer added: “I haven’t been fired. Nor have I been asked to leave.
“When the sale of the Star Tribune was announced I had fully intended to remain on as your publisher,” Moyer said. “But I have changed my mind. I have decided this is a perfect time in my life for me to take a late mid-career break – to stop and smell those clichéd roses, to devote more quality time to myself, my family, friends and many loved ones. I am blessed with the opportunity to do so, and I have decided to not let this chance pass.”
OhSang Kwon, a partner at Avista Capital Partners said, "In the course of the purchase process, we developed great respect for Keith and his team and all they have accomplished at the Star Tribune. We had sincerely hoped Keith would stay on, but he has made a measured personal decision to leave that we understand and respect. We are confident in Chris Harte and the rest of the management team's ability to lead the paper while continuing to produce a great product that serves the Twin Cities."
Bob Weil, VP/Operations at McClatchy, said, “Keith's strong leadership and steady stewardship as an editor and then publisher these past 13 years at McClatchy have contributed greatly to our success. As he leaves to embark on a new chapter in his life, he does so with the gratitude and appreciation of all of us who shared those years with him."
A search for Moyer’s replacement will begin immediately, said Chris Harte, a member of Avista’s executive advisory board who will be Chairman of the Star Tribune when Avista takes control in early March. While the search is under way, Harte will also serve as interim Star Tribune publisher. He is a veteran newspaperman, who has been publisher of newspapers in Akron, Ohio, Portland, Maine and State College, Pennsylvania, and also was a corporate executive of Knight Ridder Newspapers.
Moyer told Star Tribune employees; “Chris (Harte) has a strong newspaper background. He understands that a newspaper is a public trust. Chris will be a wonderful steward for the Star Tribune, along with OhSang Kwon, Jimmy Finklestein and others who will help the new publisher, Chris, the Executive Team and, most importantly, all of you, develop what will undoubtedly be a new and exciting course for the company. My hope is that it will be a model for others to emulate as newspapers navigate their way out of the recently choppy waters we’ve seen … I fully expect the Star Tribune and other newspapers to speed up the operational, strategic and philosophical changes that are necessary to adapt to an ever-shifting media landscape. And I will be cheering the industry on as I take this time for myself.”
Moyer has been publisher and president of the Star Tribune since July 2001. Before coming to the Twin Cities, he was publisher and president of The Fresno (CA) Bee, owned by The McClatchy Company. Moyer joined The McClatchy Company in 1994 as The Fresno Bee’s executive editor. For nearly 15 years previous to joining McClatchy, Moyer served in a variety of top editing roles for the Gannett Company.
Moyer, who lives in Orono with his wife, Marilyn, said they plan to remain in the Twin Cities.
About the Star Tribune
The Star Tribune is a news and information company serving the Minneapolis/St. Paul area. The Star Tribune newspaper is one of the top 20 largest newspapers in the nation, with an average daily circulation of 371,258 and an average Sunday circulation of 621,841 (per Audit Bureau of Circulations audit for 52-weeks ending 03/26/06). The company’s website, www.StarTribune.com, is the most frequently used local news and information service for the Twin Cities market.
About Avista Capital Partners
Avista Capital Partners is a leading private equity firm with offices in New York, NY and Houston, TX. Founded in 2005, Avista's strategy is to make controlling or influential minority investments primarily in growth-oriented media, healthcare and energy companies. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses.
Contact Ben Taylor
Phone: (612) 673-7457
Email: btaylor@startribune.com
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