A group of investors including Wellesley businessman Aaron Kushner has agreed to take a large stake in the troubled Portland Press Herald, according to two people briefed on the deal. Terms of the investment could not immediately be learned.
Kushner has also been trying to assemble investors to buy the Boston Globe. It’s unclear if his investment in the Portland paper will cause him to drop that effort. Kushner was not immediately available for comment.
The other investors in the Portland investment are former Press Herald President Chris Harte and Jack Griffin, a media executive.
The current owners are MaineToday Media Inc., which also owns the Maine Sunday Telegram, the Kennebec Journal, the Morning Sentinel. That group bought the Press Herald in 2009, but recently ran into financial trouble. The company recently laid off staff and postponed paying some bills.
The Portland Press Herald reported the deal this afternoon.