PARK CITY, Utah — Tech billionaire Matthew Prince and wife Tatiana Prince announced today that they have agreed to acquire the Park Record.
The sale will return the newspaper to local ownership for the first time since 2005.
The Prince family are multi-generational Park City locals, and have had a hand in building iconic city destinations such as the Stein Eriksen Lodge, the Yarrow Hotel (now the DoubleTree Hotel), the Alpine Slide, and Parley’s Summit Ski Resort (the precursor to Woodward).
Matthew is the CEO and co-founder of Cloudflare, a web infrastructure and security company that went public in September 2019. According to Forbes Matthew Prince has a current net worth of 2.1 billion dollars.
“We are proud to be full-time residents of Park City, and plan to invest in the Park Record to make it an even better resource for fellow locals and visitors alike,” Tatiana said in a press release. “We live in one of the most beautiful places on Earth. The Park Record can, and should, be a hub for our unique community. We’re committed to investing in making that happen.”
The Park Record was established in 1880 and is Park City’s oldest continuously published non-daily newspaper. The paper was acquired by West Virginia-based Ogden Newspapers in January 2022 when the company purchased the Park Record’s parent company, Nevada-based Swift Communications.
“In our brief period of ownership, perhaps the best thing we’ll have done is deposit the Park Record in such fantastic hands,” Cameron Nutting Williams, an owner of Ogden Newspapers, said in a press release. “Ownership of local media matters. We only considered selling to a family that had deep roots and a commitment to Park City. We’re proud to have the Princes as the new owners of the Park Record, and I have the utmost confidence that they will be great stewards of the Park Record and its mission.”
After the sale, the Park Record will continue to operate as normal with its current staff. Eventually, Tatiana and Matthew plan to convert the paper to a non-profit model, make print copies freely available, and refocus on the paper’s digital experience.