A private-equity firm behind the Free Lance-Star’s biggest loan could become the Fredericksburg, Va., newspaper's new owner after it won a bankruptcy auction last week, Dow Jones Daily Bankruptcy Review reported today. An affiliate of Sandton Capital put in the winning bid for the 300-worker publication, which sells about 43,000 copies of its newspaper on Sundays. The publication's owner filed for bankruptcy in January, blaming declining circulation and advertising revenues.
