The Post Co. in Idaho Falls is negotiating to sell the daily Post Register and three weeklies.
President Jerry Brady informed the employees of the possible sale by email Wednesday. Brady, who now lives in Boise, said the move was spurred by a need for additional resources that a larger company could provide.
“I am convinced I have nothing more to add to the welfare of the company,” he wrote.
The Post Co. recently approached several media companies about a possible purchase, but the parties couldn’t agree on a price. That changed a few months ago when the Post Co. enlisted a newspaper broker, who promptly found an interested buyer. Negotiating started this summer and talks progressed quickly. As part of a tentative deal, the Post Co. has agreed not to name the interested company. Brady said he believes a final deal will be reached in weeks.
A deal would have to be approved by the board of directors and shareholders. Combined, Brady and his brother, Jack, own roughly two-thirds of the company. The rest is owned by employees through an employee stock ownership plan.
The Post Co. has been passed down through the Brady family since 1925. The Post Register was founded in 1880.
Brady said he doesn’t think much would change for the company and its readers. He said the buyers assured him they were impressed with how the paper has been operating.
The Post Co. also publishes the Jefferson Star, Shelley Pioneer and Challis Messenger.