Orange County Register put up for sale

The Orange County Register and other newspapers and TV stations have heen put up for auction by Freedom Communicatuions.

Leading contenders to buy the Register appear to be MediaNews, with nine dailies in the area, and the companies that own the L.A. Times and the Union-Tribune.

Executives in the thick of the deal expect bids to be submitted by early next month and a decision made not long after that. But there are many complications. A deal for the whole company is possible, but it's more likely Freedom will be sold in chunks, according to those involved, who asked not to be named because they were not authorized to speak publicly about the situation.

The Irvine-based company has 32 other dailies, 70 weekly newspapers and eight TV stations. Different suitors are likely to be attracted to each of those segments. Returns from TV have been the best, presumably making the stations an easier sale. The papers are a mixed bag and would likely draw most interest from regional players.

Publishing executives and financial managers who own parts of the region's dominant newspaper companies believe that the sale of the Register will be just the first in a series of consolidations. They predict that eventually could result in what once would have been unthinkable — a single owner for most of Southern California's substantial daily newspapers.