Long Beach Press-Telegram and LA Business Journal report that Save the Queen has lost ownership of the Queen Mary.
Because no bidders came forward to buy a stake in Newport Beach developer Jeff Klein's Save the Queen, Garrison Investment Group, the company Klein previously hired to run day-to-day operations, assumed a 100 percent stake in Long Beach's borderline popular tourist attraction.
Save the Queen bought the ship's lease for $43 million in 2007 after the previous operator, Queen's Seaport Development Inc., filed for bankruptcy. Garrison, which previously loaned Save the Queen $33 million, bid just $25,000 to take over complete ownership rights at an auction held in New York City.
OC Weekly Editor-in-Chief Matt Coker has been engaging, enraging and entertaining readers of newspapers, magazines and websites for decades. He spent the first 13 years of his career in journalism at daily newspapers before “graduating” to OC Weekly in 1995 as the alternative newsweekly’s first calendar editor.