Friday, October 26, 2007

Newspaper Sales

A couple of notable ones this week:

Tribune to sell The Advocate/Greenwich Time
Published October 25 2007
Chicago Oct, 25, 2007 - Tribune Publishing, a division of Tribune Company, today announced the sale of its Southern Connecticut Newspapers, The Advocate (Stamford) and Greenwich Time, to Hearst Corporation for $62.4 million. The newspapers will be managed by MediaNews Group, Inc. under an existing joint venture agreement with Hearst.The transaction is expected to close within the next few weeks. It does not include real estate in Stamford and Greenwich, which Tribune plans to sell separately.

and two in Oklahoma:

2 State Newspapers to Be Sold
The Daily Oklahoman
Two of Oklahoma's oldest newspapers -- the Daily Ardmorite and the Shawnee News-Star -- are among 17 newspapers and other properties being sold by Morris Publishing Group to GateHouse Media Inc.

The $115 million sale, subject to a working capital adjustment, will be used by Augusta, Ga.-based Morris Publishing to pay down debt outstanding under its bank credit agreement.

The transaction is expected to close by late November and is subject to approval by regulators and lenders.

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