Group terminates deal to buy Blethen papers

PORTLAND – An investment group that has been in discussions to buy Blethen Maine Newspapers no longer has exclusive negotiating rights.

Maine Media Investment LLC initiated the termination of the deal. But Richard Connor, one of four principals, said his group is still working to buy Blethen Maine Newspapers, owner of the Portland Press Herald, Maine Sunday Telegram, Kennebec Journal in Augusta and Morning Sentinel in Waterville.

Connor said the investment group gave up exclusive negotiating rights because the deal was taking longer than anticipated and certain benchmarks could not be met.

Connor’s partners are William Cohen, former secretary of defense; businessman Robert Baldacci, brother of Maine Gov. John Baldacci; and developer Michael Liberty.