GateHouse to buy SureWest directories |
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Mon, 29 Jan 2007 14:10
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FAIRPORT, N.Y. (AFX) - Newspaper publisher GateHouse Media Inc. said Monday it agreed to buy SureWest Communications' directories unit for $110.5 million.The deal also includes the assumption of $3.5 million in working capital.SureWest, whose SureWest Directories publishes yellow pages and white pages directories in Sacramento, Calif., said in a statement that the deal allows it 'to continue to focus on our core business of being a full-service integrated communications provider.'SureWest, whose main business is providing phone and Internet services, expects the deal to close in the first quarter.GateHouse anticipates the acquired unit will boost its advertising revenue. 'This is a superb local content and advertising business with an attractive future, especially given its presence in the high growth Sacramento market,' the company said in a statement.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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