Park City billionaire purchases Park Record newspaper
Utah native and billionaire Matthew Prince and his wife Tatiana announced Tuesday morning they’re buying the Park Record from Ogden Newspapers.
Prince co-founded and is the CEO of Cloudflare, an internet infrastructure and cybersecurity company that went public in 2019. According to Forbes, his net worth is roughly $2.3 billion. He’s considered the second wealthiest person in Utah, behind Gail Miller.
Prince made headlines in February when he was accused by Park City Municipal of inserting language into a state bill that would override local land use code in order to expand his home on Treasure Hill. Legislators voted down the language related to his home renovation plans.
While KPCW and the Salt Lake Tribune covered the Princes' efforts with the Legislature, the Park Record did no reporting on the subject until after the Legislature voted.
In a press release Tuesday morning, the Princes said they plan to convert the paper into a non-profit organization or public benefit corporation.
Co-owner of Ogden Newspapers Cameron Nutting Williams said the company only considered selling to a family with deep roots and a commitment to Park City.
Ogden bought the Park Record from Swift Communications in 2021. The Princes’ purchase returns the paper to local ownership for the first time since 2005, when it was partly owned by Peter Bernhard, brother of longtime publisher Andy Bernhard.
The Park Record has been continuously published since 1880. The Princes said they hope to make print copies freely available, while focusing on the paper’s online presence.
Park Record editor Robert Meyerowitz said he plans to stay on and is meeting with the Princes Tuesday morning.
The purchase price was not disclosed. Park Record publisher Valerie Spung did not immediately respond to requests for comment.