Judge Sets Back McCarthey Bid to Buy The Salt Lake Tribune

Judge Sets Back McCarthey Bid to Buy The Salt Lake Tribune

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(Salt Lake City-AP) -- A federal court ruling today could make it harder for the McCarthey family to buy back The Salt Lake Tribune.

The McCartheys gave up ownership of Utah's largest paper in 1997 for a lucrative stock swap with a cable-television company.

Now they want to buy it back.

Fair-market appraisals put a price tag of 355 (M) million on the paper but the family says the appraisal was botched.

The US District Court judge ruled the family can contest the price, but they'll have to prove that there was corruption or fraud involved in fixing the price.

The judge set arguments for September 29.

Once the price is set, he'll set a date for the Tribune's sale.

If the paper's new owner refuses to sell, the case will go to trial in November.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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