Journal Register closes R.I. paper sale |
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Mon, 05 Feb 2007 19:40
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YARDLEY, Pa. (AFX) - Regional newspaper publisher Journal Register Co. said Monday it completed the sale of its three daily newspapers and weekly newspaper group in Rhode Island to RISN Operations Inc. for about $8.3 million.Proceeds from the sale, which was announced late last month, will be used to pay down debt and for general working capital purposes, according to the company.The properties included are: The Call of Woonsocket, The Times of Pawtucket, the Kent County Daily Times, and the Southern Rhode Island Newspaper Group.Shares of Journal Register rose 2 cents to $7.08 in afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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