WAN-IFRA

Shaping the Future of the Newspaper

Date

Fri - 25.05.2012


GateHouse Media buys Morris publications for $115 million

GateHouse Media buys Morris publications for $115 million

GateHouse Media Inc. said Tuesday it has agreed to buy several daily and non-daily publications from Morris Publishing Group for $115 million.

GateHouse Media said the acquisition is expected to generate “an incremental $14 million of adjusted earnings before interest, taxes, depreciation and amortization,” according to Finanz Nachrichten.

The publications acquired are located in South Dakota, Florida, Kansas, Michigan, Missouri, Nebraska, Oklahoma and Tennessee, the company said, according to Finanz Nachrichten.

The deal is expected to close before late November, and is subject to regulatory approval and closing conditions.

After this news was revealed, shares of GateHouse Media closed the regular session down 15 cents at $11.

Tags

Author

Erina Lin

Date

2007-10-25 06:41

Shaping the Future of the Newspaper


© 2012 WAN-IFRA - World Association of Newspapers and News Publishers

Footer Navigation