A. H. Belo Corporation and Freedom Communications Holdings, Inc. Complete Press-Enterprise Transaction
November 21 2013 - 5:31PM
Business Wire
A. H. Belo Corporation (NYSE: AHC) and Freedom Communications
Holdings, Inc. (Freedom) announced today that the previously
announced sale of The Press-Enterprise is now complete.
Freedom acquired substantially all of the assets which comprise
the newspaper operations of The Press-Enterprise located in
Riverside, CA (including the production facility and related land)
for $27.25 million. A. H. Belo continues to own and market for sale
the land and buildings associated with a discontinued commercial
printing operation in Riverside, CA. The Press-Enterprise will
maintain its primary business offices in Riverside.
Jim Moroney, Chairman, President and Chief Executive Officer of
A. H. Belo, said, “We are pleased the transaction has closed, and
wish our colleagues in Riverside all the best as they go forward as
part of Freedom Communications.”
Aaron Kushner, co-owner and Chief Executive Officer of Freedom
Communications, said, “We appreciate the stewardship provided by A.
H. Belo to The Press-Enterprise, an institution that plays an
incredibly important role in building community and adding richness
to people’s lives. Our focus moving forward will be to enhance the
ways we can provide value to subscribers of The Press-Enterprise
and the greater community.”
About A. H. Belo
Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas,
Texas, is a distinguished newspaper publishing and local news and
information company that owns and operates three daily
newspapers and related websites. A. H. Belo
publishes The Dallas Morning News, Texas’
leading newspaper and winner of nine Pulitzer Prizes; The
Providence Journal, the oldest continuously-published daily
newspaper in the United States and winner of four Pulitzer Prizes;
and the Denton Record-Chronicle. The Company publishes various
niche publications targeting specific audiences, and
its investments include Classified Ventures, owner of
Cars.com, and Wanderful Media, owner of Find&Save. A. H.
Belo offers digital marketing solutions through 508 Digital and
Speakeasy and also owns and operates commercial printing,
distribution and direct mail service businesses. Additional
information is available at www.ahbelo.com or by
contacting Alison K. Engel, Senior Vice President/Chief Financial
Officer, at 214-977-2248.
About Freedom Communications Holdings,
Inc.
Freedom Communications, headquartered in Santa Ana, Calif., is a
privately-owned company that publishes four daily newspapers -
Daily Press in Victorville, Calif., Desert Dispatch in Barstow,
Calif., the Long Beach Register in Long Beach, Calif. and the
Orange County Register in Santa Ana, Calif. Freedom also publishes
more than 30 community newspapers that serve specific cities,
audiences and geographic areas, including Spanish-language
Excelsior. Freedom publishes highly designed glossy magazines and
operates a custom publishing unit. The company's portfolio also
includes news and entertainment websites and mobile applications.
For more information, visit freedom.com or contact Eric Morgan at
714-796-2460 or emorgan@freedom.com.
A. H. Belo CorporationAlison K. Engel, 214-977-2248Senior Vice
President/Chief Financial Officerwww.ahbelo.comorFreedom
Communications Holdings, Inc.Eric Morgan,
714-796-2460emorgan@freedom.com
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