Freedom Communications fire sale rolls on | IndyBlog

Local News Freedom Communications fire sale rolls on

Posted by Bryce Crawford on Thu, May 17, 2012 at 9:34 AM

Freedom Communications, the parent company of the Gazette, has issued a press release announcing it sold four more of its newspapers to an affiliate of Philadelphia-based private equity firm Versa Capital Management.

It has reached agreement to sell the Telegraph in Alton, IL, the Journal-Courier in Jacksonville, IL, the Sedalia Democrat in Sedalia, MO and the Lima News in Lima, OH ...

The transaction, terms of which were not disclosed, is expected to close within the next thirty days. Substantially all current employees will transition to the new company.

"With their commitment to providing the accurate and timely information that their communities want and deserve, these properties showcase, through the hard work of their associates, what community journalism is all about. We believe that commitment and tradition will be carried on by the new ownership," said Freedom CEO Mitch Stern.

Recently, Freedom made news when it was revealed it's likely in talks to sell its flagship paper: the Orange County Register.

Tags: Freedom Communications, Gazette

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