Bay Guardian, SF Weekly Near Settlment Of Ad Suit
SAN FRANCISCO (AP) – A court battle between two San Francisco newspapers sparked by predatory ad pricing could be drawing to a close.
A Delaware judge canceled a scheduled hearing Wednesday regarding a request by lenders to prevent the Bay Guardian from collecting advertising revenue from SF Weekly. In 2008, SF Weekly was ordered to pay $21 million to the Bay Guardian for engaging in predatory ad pricing.
An attorney for the Bank of Montreal, which is representing the lenders owed millions of dollars, said the parties are in serious settlement talks in California.
The lenders claim they have a priority interest in SF Weekly, which is owned by the Village Voice media chain. They say the Bay Guardian was trying to shut down its rival by seizing ad revenue it needs for operating expenses.