The Virginia Farm Bureau Federation is negotiating to buy at least part of the State Fair of Virginia from its new owner.
Federation spokesman Greg Hicks tells The Richmond Times-Dispatch (http://bit.ly/MLYexF ) that his organization has been in talks with Tennessee-based Universal Fairs LLC. He says an announcement "one way or the other" will be made next week.
Universal Fairs president Mark Lovell bought the 150-year-old fair's intellectual property and the event site in Caroline County for $5.67 million at an auction on May 22. The previous owner, State Fair of Virginia Inc., filed for bankruptcy protection last December and later converted the case to a Chapter 7 liquidation.
The Virginia Farm Bureau was a sponsor of the fair.
Lovell told the newspaper last month that he was open to selling the property if the price is right.
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