Who IS Avista? Questions Linger About Ridder and the Star Tribune’s Owner

Questions are arising about Par Ridder and the modus operandi of new Star Tribune owner Avista Capital Partners, on both local and national fronts.

Recapping Ridder’s alleged theft of data from Pioneer Press computers and the resulting lawsuit, the Washington Post’s Howard Kurtz asks:

“Why would Ridder risk tarnishing his reputation by deserting a newspaper tied to his family for 80 years and joining the competition? Is this is how the Star Tribune’s new owner, Avista Capital Partners, the first U.S. private equity firm to buy a major newspaper, plays the game? A Star Tribune spokesman says Ridder and the paper have no comment.”

Rake magazine media critic Brian Lambert, in considering Avista’s lack of transparency, asks, “Who really IS Avista?” Better, what can we gather about their corporate values now that they’ve turned down a request by the paper’s chapter of the Newspaper Guild for a thorough and independent investigation into Ridder’s actions?

But Lambert poses an even better question: Should Ridder step down as publisher until the legal dust settles?

“That would do something to mute skeptics and critics who will otherwise snicker at the appearance of a righteous news organization, committed to fairness, being managed by a guy accused of both petty thievery and clumsy conniving,” he wrote.

Strib Guild reps Chris Serres and Pat Doyle seemed intrigued by that idea, but didn’t offer Lambert a clear answer on whether they’d urge such action.

One final question: as the lawsuit against Ridder continues and national attention remains fixed on the Twin Cities’ dailies, will local coverage of important news be affected?

Serres, who is also a reporter for the Star Tribune, suggested to Lambert that it might be affected already. “This is getting to the point where our sources are asking about it,” he said.