Freedom Communications Inc. in Irvine announced today that it has sold four of its Midwestern papers to an arm of Versa Capital Management LLC in Philadelphia. Freedom owns The Orange County Register.
Included in the sale are The Telegraph in Alton, Ill., The Journal-Courier in Jacksonville, Ill., The Sedalia Democrat in Sedalia, Mo., and The Lima News in Ohio.
Freedom Communications Inc. is media company based in Irvine.
CINDY YAMANAKA, THE ORANGE COUNTY REGISTER
ADVERTISEMENT
Terms of the deal were not disclosed. Freedom said the sale is expected to close in 30 days.
Freedom, which exited bankruptcy reorganization two years ago, has been in the process of selling its properties.
Last November, Freedom announced the sale of its eight television stations to Sinclair Broadcast Group Inc. The $385 million deal, which closed in April, left Freedom free of the $325 million in debt it had after emerging from bankruptcy.
In January, Freedom sold The Tribune in Seymour, Ind., and the News Journal in Clovis, N.M., to Clovis Media Inc.
There has been no announcement about the status of the Register.
Versa is a Philadelphia-based private equity firm that began acquiring newspapers last year with its purchase of Ohio Community Media, which operates a group of papers in northern and western Ohio. Two months ago, Versa bought Impressions Media, a group of Pennsylvania newspapers led by the Times Leader in Wilkes-Barre.
Contact the writer: 714-796-3646 or mmilbourn@ocregister.com
bcs championship game beyonce baby detroit auto show tebow broncos ben roethlisberger downton abbey season 2 2013 dodge dart
No comments:
Post a Comment