Princeton Packet Owner: No Sale of Paper Pending
Princeton Packet owner Jim Kilgore says there is no sale of his chain of papers in the works right now.
“Since I have signed multiple non-disclosure agreements during the marketing process, I cannot comment in any detail about which parties have or have not responded to the initial offer but I can say a sale is not pending,” he wrote in an e-mail to Planet Princeton today.
Kilgore was responding to a story posted Monday in which Planet Princeton reported that the owners of the Town Topics, which include Lynn Adams Smith and developer and architect J. Robert Hillier, have made an offer to purchase the paper. Business sources said the two proposed turning the paper in to an arts and entertainment weekly. Sources said they expected an answer as early this week as to whether their bid was successful or not.
In November, Kilgore announced that he planned to put the Princeton Packet up for sale and retire.
Krystal Knapp is the founding editor of Planet Princeton. Follow her on Twitter @krystalknapp. She can be reached via email at editor AT planetprinceton.com. Send all letters to the editor and press releases to that email address.