In a startling bit of news for the Idaho newspaper industry, the Post Company announced today that it’s negotiating a deal to sell the business and all its assets – including the Idaho Falls Post Register. The family- and employee-owned newspaper has served Idaho Falls under the Post Company since 1925; the Post Register was first founded in 1880.
Jerry Brady, president of the Post Company, informed employees in an email yesterday afternoon, the Post Register reported today. The sale would include the Jefferson Star, Shelley Pioneer and Challis Messenger as well, which also are published by the Post Company. Brady said, “I’m quite convinced it’s the right thing to do.
The newspaper reported that a few months ago, the Post Company enlisted a newspaper broker who promptly found an interested buyer, and talks progressed quickly; the buyer hasn’t yet been named. Brady said operations are expected to continue in a similar fashion to how they have in the past.
Brady and his brother Jack own two-thirds of the company, while employees own the other third through an employee stock ownership plan. If the sale goes through, those employees’ shares would be bought out, but like all newspapers, their value has been declining. Brady said in the Post Register article that he suspects readers will see little change, and said the buyers told him they were impressed with how the paper has been operating.