Greenwich Times – The manager of a Greenwich hedge fund who is married to a U.S. congresswoman has purchased a 75 percent stake in the financially struggling company that owns The Portland Press Herald and two other daily newspapers in Maine.
S. Donald Sussman’s Maine Values LLC previously announced it would provide a $3.3 million loan for a 5 percent equity stake and a seat on the board of MaineToday Media. The final restructuring plan, completed Tuesday, calls for Maine Values to provide the same amount of money as a straight stock purchase.
