Equity Firms May Soon Purchase Big Bay Area Newspapers

San Jose Mercury News, Oakland Tribune in sights of private equity.

The Bay Area's biggest newspaper chain may soon change hands.

Two major private equity firms are in talks to purchase the parent company of the San Jose Mercury News and the Oakland Tribune, according to the Denver Business Journal.

Digital First Media is the parent company of the Bay Area News Group. And it's been looking to sell.

In talks to buy are Cerberus Capital Management LP and Apollo Global Management, the newspaper reported, citing Bloomberg and other sources.

Digital First CEO John Paton is looking to sell the company for as much as $625 million, according to Bloomberg.

Digital First has "been on the block" since the fall, according to the newspaper.

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