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Thursday, November 8, 2012

Denver Post Selling Colorado Rockies Interest

story originally appeared on mercurynews.com

DENVER -- The Denver Post is actively marketing its minority ownership stake in the Colorado Rockies, according to Digital First Media, which operates Denver Post owner MediaNews Group.

The paper is seeking to sell the stake in the baseball team as it pursues a digital strategy focused on content creation and advertising sales on multiple platforms, according to Digital First Media chief executive John Paton.

The Post holds a 7.3 percent stake in the Rockies, which is majority owned by brothers Dick and Charlie Monfort.

In March, Forbes magazine valued the franchise at $464 million, up 12 percent from the previous year.

Ed Moss, CEO of the Denver Post and Executive Vice President of Digital first Media said that there has been a recent increase in market value of Major League Baseball teams, and they would sell the interest if they could receive the right value. Otherwise, he says, they can just old onto their interest in the Colorado Rockies.

New York-based Digital First Media took over management of MediaNews Group in the fall of 2011. The Bay Area News Group is among the other MediaNews Group newspapers managed by DFM.

Park Lane, a sports-focused investment bank based in Los Angeles, and Katten Muchin Roseman LLP, a sports law group, will field offers for the Post's ownership position in the Rockies.