Local investors said they plan to submit bids to buy the Honolulu Star-Bulletin by a Monday deadline, while a Texas private equity investment team is considering its options.

Black Press offered the ailing Star-Bulletin for sale on March 15 to satisfy Justice Department requirements regarding a planned purchase of The Honolulu Advertiser from Gannett Co. As the deadline looms, only two bids—one from state Sen. Sam Slom (R-Hawaii Kai, Kahala) and Hawaii Reporter editor Malia Zimmerman, and another from Frederick “;Derick”; Harris, the Big Island owner of Cyber ID—have been confirmed by the parties.

Brian Ferguson, managing principal of Texas-based Anthem Newspaper Holdings LLC, said earlier that his team had submitted several proposals to Black Press and that one might have included MidWeek, a weekly publication not offered in the sale.

Ferguson, 30, declined to confirm Anthem's plans yesterday; however, sources familiar with his other acquisitions said he is expected to submit a second non-conforming bid, for assets not listed for sale. Anthem owns about 6 percent of A.H. Belo Corp., parent company of newspapers in Dallas, Riverside, Calif., and Providence, R.I.

The 68-year-old Slom said he and Zimmerman have reviewed the assets, toured the Kaneohe press plant and plan to make an offer Monday.

Slom, who owns the economic small business consulting firm, SMS Consultants, and serves as president of Smart Business Hawaii, said the pair is undeterred by the $100 million-plus Star-Bulletin losses detailed in the offering. He said they are weighing plans that include a profit or not-for-profit model and are considering outsourcing printing and distribution.

The staff, which would be considerably smaller than the current one, would own the newspaper, Slom said.

The 56-year-old Harris, who primarily makes his living by renting out 1,500 Internet brand channels, said his plan involves operating a nonprofit Star-Bulletin. The print paper would be subsidized by Harris' independent for-profit NewsNav network, a business that sells online content to advertisers, he said.

Harris, whose journalistic experience is limited to some TV, said he plans to hire out-of-work journalists for his employee-owned paper and news service. He has presented his plan to the Hawaii Newspaper Guild, but has not received support.

The Justice Department did not comment on how many bids it has received or on the vetting process, but spokeswoman Gina Talamona said “;the Antitrust Division is monitoring the sale of the Star-Bulletin newspaper consistent with the antitrust laws.”;

Bidders would not disclose the value of their offers; however, sources familiar with the process have estimated a liquidation value of at least $2 million. Offers have to include business plans and proof of sufficient finances, sources said.

If the Star-Bulletin is not sold, owner David Black plans to merge the paper with the Advertiser.