Taylor Corp. Owner Glen Taylor Signs Agreement to Purchase StarTribune Newspaper

Glen Taylor’s effort to purchase the StarTribune moved forward yesterday with the signing of a purchase agreement between the Minnesota billionaire and the media company.

StarTribune Publisher Mike Klingensmith called the agreement an “important milestone” and said he expects the sale to close around June 30. “Work remains to be done, but we are increasingly confident of closing this transaction,” Klingensmith said.

Taylor has said he will pay around $100 million in the deal. He could not be reached for comment.