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Journal Register wraps newspaper sale


Published : Fri, 09 Feb 2007 23:44
By : Agencies
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YARDLEY, Pa. (AFX) - Media company Journal Register Co. said Friday it completed the sale of two daily community newspapers and five non-daily publications in Massachusetts to GateHouse Media, Inc.

Journal Register sold the publications for $70 million in cash and $2 million in working capital.

Proceeds of the sale will be used to pay down debt, the company said.

The daily newspapers included in the sale are The Herald News in Fall River, Mass., and the Taunton Daily Gazette in Taunton, Mass.

Journal Register shares rose 4 cents to close at $7.46 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 This material may not be published, broadcast, rewritten, or redistributed.

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