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Friday, September 1, 2000

Star-Bulletin closing

Offers received
for Star-Bulletin

The broker declines to
name the bidders


Newspaper broker Dirks Van Essen & Murray announced late this morning that bids have been received on the Honolulu Star-Bulletin.

The deadline to make an offer on the 118-year-old newspaper in the court-supervised sale is 4 p.m. Mountain Standard Time today -- noon in Hawaii.

In a terse news release, lead broker Phil Murray said: "Offers for the Honolulu Star-Bulletin have been received. The process will continue. No further information will be released."

Meanwhile, Kauai publisher Peter McClaran and former U.S. Congressman Cecil Heftel were expected to submit a joint bid later today.

McClaran said he was advised by Murray that the noon Hawaii deadline will not be strictly enforced.

Canadian newspaper publisher David Black, owner of Victoria, B.C.-based Black Press Ltd., confirmed earlier this week that he planned to submit a bid on the Star-Bulletin.

Windward auto dealer Mike McKenna's group has pulled out, saying they needed more time to prepare a bid.

ESOP Star-Bulletin, a majority of the newspaper's editorial employees, said it also plans to submit a proposal today.

Federal Magistrate Barry Kurren has set a Sept. 15 deadline to review bids and approve a buyer for the afternoon newspaper.

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