Feb 16, 2007 12:18 pm US/Central
Publisher Moyer Leaving Star Tribune
Minneapolis (AP) ―
The publisher of the Star Tribune said Friday that he will step down in March when ownership of the state's largest newspaper changes from The McClatchy Co. to Avista Capital Partners.
J. Keith Moyer, 54, told newspaper employees that he was leaving to spend more time with his family. He said he was leaving voluntarily. "I haven't been fired. Nor have I been asked to leave," he said.
"I have decided this is a perfect time in my life for me to take a late mid-career break -- to stop and smell those cliched roses, to devote more quality time to myself, my family, friends and many loved ones," Moyer said.
Moyer said that he was not leaving due to ownership change. "I like very much the people who have bet on a bright future for each of you and this company with their considerable investment dollars," he said.
On Dec. 26, McClatchy announced it would sell the Star Tribune for $530 million to Avista, a private equity firm with offices in New York and Houston.
OhSang Kwon, a partner at Avista, said his company had hoped that Moyer would remain with the paper, but Avista executives understood Moyer's decision.
Chris Harte, member of Avista's executive advisory board, will be chair of the newspaper when Avista takes over next month. He said a search for Moyer's replacement will begin immediately. During the search, Harte will be interim publisher.
Harte has been publisher of newspapers in Akron, Ohio; Portland, Maine and State College, Penn. He has also been an executive with Knight Ridder Newspapers.
Moyer has been publisher and president of the Star Tribune since July 2001. Before moving to Minnesota, he was the publisher of The Fresno Bee in California. He has also held various editing jobs with the Gannett Co. Inc.
Moyer said he plans to remain in the Twin Cities.
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