Clear Creek Courant 0505

Page 1

INSIDE Going to prom with CCHS

PAGE 16 Subscribe. All local, all the time. $41/year. Discounts available.

WEDNESDAY, MAY 5, 2021

Serving Clear Creek County since 1973

WWW.CLEARCREEKCOURANT.COM

75 CENTS

Gondola, VCMP trail construction on hold Argo sues debt funder, title company over missing $4.5 million BY CORINNE WESTEMAN CWESTEMAN@COLORADOCOMMUNITYMEDIA.COM

Ann Healey, former co-owner of Colorado Community Media, speaks during a meeting announcing the sale of the print and digital news company. At right, former publisher and co-owner Jerry Healey and reporter Thelma Grimes listen. PHOTO BY JOHN LEYBA/SPECIAL TO THE COLORADO SUN

‘Tell stories that matter:’ Colorado Community Media sold to news entity Colorado Sun, national foundation to take the reins of two dozen Denver-area newspapers BY DAVID GILBERT DGILBERT@COLORADOCOMMUNITYMEDIA.COM

Colorado Community Media, the company that produces two dozen newspapers around the

Denver-area suburbs — including this one — and two shoppers has been acquired by a local and national partnership with the goal of building a sustainable business model for local news, its ownership announced on May 3. Jerry and Ann Healey, the couple who built the company over the past decade, sold the network of papers that now spans eight counties and dozens of communities to a joint partnership between the National Trust for Local News, or NTLN, and The Colorado Sun.

Josh Spinner - Broker, Owner Local Expert since 1999

The acquisition is the first for NTLN, a nascent nonprofit that seeks to leverage national foundation funding to buy and bolster local newspapers threatened by faltering business models and the encroachment of hedge funds and corporate conglomerates. The Colorado Sun, a statewide news outlet founded and run by former Denver Post journalists, will oversee daily operations at Colorado Community Media.

All construction on the gondola system and Idaho Springs’ Virginia Canyon Mountain Park is on hold while Mighty Argo Cable Car LLC sorts out its financial situation. The company recently filed a civil lawsuit against its debt funder, a title company and the title company’s owner over alleged breach of contract and failure to return $4.5 million the Mighty Argo had in escrow. According to co-owner Mary Jane Loevlie, Dallas-based TriVecta Capital Group was supposed to provide $32 million in debt funding in January and didn’t. So, in February, the Mighty Argo sent Virginia-based First Title a demand letter to get back its $4.5 million in escrow and didn’t receive it. The company then filed a lawsuit against TriVecta, First Title and First Title owner Sandra Bacon in U.S. District Court on April 19. TriVecta didn’t respond to the SEE GONDOLA, P7

SEE SOLD, P2

Supply is LOW! Sell for TOP $$$

Voted Best Realtor Clear Creek County Zillow Premiere Agent | Realtor.com Agent joshuaspinner@gmail.com

303.567.1010 Cell: 303.825.2626

For a home loan call Jennifer Hager (720) 593-4385

Creekside Charmer

Private Setting

3 Bed 2 Bath

Visit www .clearcreek courant.com for breaking news and updates.

Follow us on Facebook Visit www.facebook.com/pages/ Clear-Creek-Courant/171267532910583


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.