The Denver Post is actively shopping its minority stake in the Colorado Rockies, according to the newspaper. The Post is owned by MediaNews Group, which is operated by Digital First Media, and DFM is looking to focus its operations more on content creation and advertising sales. The Rockies play baseball, which is neither of those, so the media company is looking to sell its 7.3% stake in the team.
The values of Major League Baseball teams have increased dramatically in recent years, so the paper could be looking to strike while the iron is hot. If the Los Angeles Dodgers can be sold for $2 billion, the Post is hoping their small piece of the Rockies could turn a nice profit for them. Of course, the Rockies are not the Dodgers, and Denver is not Los Angeles. But baseball teams, even small minority stakes, are not up for sale all that often. The Post is hoping an eager buyer will be willing to pay top dollar for a piece of the team.
Forbes Magazine, who annually publishes estimated values of professional sports teams, listed the Rockies as worth $464 million earlier this year. Of course, that was before Troy Tulowitzki got injured.