To put in perspective the sale of the Minneapolis Star Tribune by McClatchy to an investment firm it helps to recall that the Strib was a sister paper of the Des Moines Register when both were owned by members of the Cowles family. The fate of the Register, sold to the highest bidder (Gannett) in 1984, influenced Cowles family members to invite McClatchy to acquire the Minneapolis paper, which it did in 1998.

The Cowles family put quality and service to readers and community ahead of profits, so ownership by McClatchy, which appeared to share the same values, seemed like a match made in newspaper heaven. As the Register became more and more profit-driven, the sale of Minneapolis to McClatchy looked better and better. Now acquisition of the paper by investors without a track record in daily newspaper journalism has got to be a very bitter pill. Since the sale to McClatchy was to prevent a Gannett-type takeover and the ensuing likely focus on cost-cutting and profits, acquisition by Avista Capital Partners looks like being saved from the frying pan only to end up in the fire.

It has to be especially galling to those who breathed easier after escaping Gannett’s clutches to have McClatchy explain its exit from Minneapolis by citing benefits of the sale to “the long-term interests of the company and its stockholders.” Not a word about the interests of readers or the community.

In announcing acquisition of the paper, a spokesman for Avista cited its “exceptional brand, presence in a strong demographic market, a rapidly growing internet platform and an experienced management team.” He said the Star Tribune represents “a very attractive asset among major metropolitan newspapers.” Indeed it does. It’s disquieting that with all that going for it, the Strib should fall into the hands of a business that appears to be dedicated to maximizing returns rather than serving the public’s need for news and information.

In our 2001 book, “Taking Stock: Journalism and the Publicly Traded Newspaper Company,” Randall Bezanson, John Soloski and I cited McClatchy as the white hats for exceptional commitment to achieving quality and circulation goals. It’s disappointing, therefore, to see it behaving like any other money-maker by shedding a venerable paper and leaving its future very much in doubt.