GateHouse buys SureWest's directory unit |
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Thu, 01 Mar 2007 00:07
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ROSEVILLE, Calif. (AP) - SureWest Communications, whose main business is providing phone and Internet services in northern California, said Wednesday it has completed the sale of its directory publishing subsidiary to newspaper publisher GateHouse Media Inc. for $110 million in cash.The deal, which was initially announced in late January, for SureWest Directories includes the assumption of $3.5 million in working capital.SureWest Directories publishes business and residential phone directories in the Sacramento, Calif., area, and 'Internet yellow pages' through the http://www.sacramento.comWeb site.GateHouse Media will become the publisher of the official telephone directory of SureWest Telephone, a subsidiary of SureWest that services the Roseville, Calif., area.Shares of SureWest fell 2 cents to $23.86 in aftermarket trading. It ended the day up 30 cents to close at $23.88 on the Nasdaq Stock Market. GateHouse shares dipped 8 cents to close at $19.33 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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GateHouse to buy SureWest directories 