Star-Bulletin owner buys Honolulu Advertiser

HONOLULU—News that Canadian publisher David Black, owner of the Honolulu Star-Bulletin, had purchased the Honolulu Advertiser spread throughout Hawaii through Twitter, Facebook, local news briefs, and word of mouth within minutes of a 4:00 p.m. meeting attended simultaneously by the staff of both newspaper operations today on Thursday, February 25.

A statement put out on the Star-Bulletin website said the agreement was announced by Oahu Publications Inc., which owns the Star-Bulletin, MidWeek, and other weekly newspapers and magazines, and Gannett Co., owner of the Advertiser. Oahu Publications also will get related assets in addition to the Advertiser, including its website, non-daily publications, and Gannett’s interest in Hawaii.com. It does not include the Advertiser‘s office building at 605 Kapiolani Blvd.

“We are pleased to be able to purchase The Advertiser, a strong and excellent newspaper,” said Black, chairman of Oahu Publications in a statement. “We will endeavor to continue the tradition of good Hawaii newspaper stewardship as exemplified in modern times by Twigg Smith and Gannett.”

Oahu Publications discussed the transaction with the the U.S. Justice Department and Hawaii Attorney General Mark Bennett.

The Advertiser was one of only a few Gannett properties that was losing money. The Advertiser had previously spent $82 million on a state-of-the-art printing press, gave its current staff a two-year 10 percent pay cut, and laid off 164 people since 2007. There are approximately 550 employees on staff.

The Star-Bulletin was founded in 1882 by J. W. Robertson and Company. After public opposition kept former owners Liberty Newspapers from closing the Star-Bulletin in 1999, it ran in joint operation with the Advertiser through 2001 before being picked up by Black.