Digital First Media, the parent company of The Sun of Lowell, the Sentinel & Enterprise of Fitchburg, and the Nashoba Valley Voice was the high bidder at $11.9 million for the Boston Herald at a bankruptcy auction Tuesday, the Boston Business Journal reported.
DFM owns close to 100 publications across the country, operating as Media News Group. Others bidding on the Herald were GateHouse Media and Revolution Capital.
The result of the auction was confirmed by the Herald's bankruptcy lawyers at the firm Brown Rudnick, the Herald reported. The auction was held at the firm's Boston offices.
The high bid is subject to court approval, and a hearing is set for Friday in federal bankruptcy court in Delaware.
GateHouse Media was the first to bid in December at $5 million, followed by a $5.75 million bid by Revolution Media Group, a Los Angeles private equity company.