HOT PURSUIT
It’s probably not what he expected, but it’s where my heart and passion lie.
On Sunday night, I had the opportunity to meet Minnesota billionaire entrepreneur Glen Taylor and his wife, Becky, at the Federated Challenge in St. Paul. Taylor is the owner of the Taylor Corporation in North Mankato, Minnesota Timberwolves and the Star Tribune in Minneapolis. He is believed to be the richest man in Minnesota at an estimated worth of $2.9 billion.
I know what you’re thinking. Didn’t I ask him about NBA star Anthony Edwards and what he means to the Timberwolves organization? Or how good will Rob Dillingham be for the Timberwolves?
I’m sure he routinely gets bombarded with sports questions. And, even though Taylor was at the Federated Challenge representing his Timberwolves as one of the major sponsors, I decided to switch things up and stay clear of sports talk. Instead, I focused in on his ownership of Minnesota’s largest newspaper. And that’s no howling.
I thanked Taylor for his commitment to saving journalism in Minnesota, especially with the Star Tribune, which at one time prior to his arrival in 2014 was on some pretty shaky ground. Taylor, who purchased the Star Tribune out of bankruptcy, came in to stabilize Minnesota’s iconic newspaper and provide a solid news source.
Like many newspapers, Taylor, 83, shared with me how the greatest challenge facing the Star Tribune is figuring out how to capitalize on digital revenue as other traditional revenue sources for newspapers dry up.
All eyes have been focused on the Star Tribune over the past year as former Minnesota Department of Employment and Economic Development commissioner Steve Grove took over as publisher. Grove has assembled a new leadership team, vows to focus on digital and plans to announce a new name for the newspaper this fall.
When I questioned Taylor about the impending name change, he just smiled and said, “I can’t say anything. It wouldn’t be right to see a story in your newspaper (about the new name).” We had a good chuckle about it.
Back in 2014 when Taylor bought the newspaper, he said: “My heart belongs to Minnesota, and I want the newspaper to be not just our window on the world, but also a force for bringing us together.”
A few years ago, Taylor shared with Star Tribune readers how he is proud to own the newspaper. “Make no mistake, local news is a tough business,” he said at the time. But, he added, he’s been in challenging situations before.
It’s anybody’s guess what would have happened to the Star Tribune if Taylor hadn’t come along. He’s a local owner, he’s invested in the greater community of Minnesota and that’s the way it should be. We should all feel fortunate to have local ownership in such a media empire.
We’ve all seen what happens when large corporations come in and take over newspapers. It isn’t pretty.
Taylor, on the other hand, has provided the necessary tools and resources to make Minnesotans proud of their statewide newspaper. He has saved the Star Tribune from the chopping block, and I believe all newspapers as well as residents in Minnesota are better for it. It’s honorable to see someone like Taylor recognize the importance journalism plays in our society.
Keeping journalism flourishing is something I plan to go in hot pursuit of for our readers because having an informed community is better for everyone involved.