GateHouse sells Arizona paper to News Media
By Alexandra Zeumer, Wednesday 7 May 2008 at 18:52 :: Media Ownership :: #1626 :: rss
News Media Corp. has bought the Arizona Silver Belt from GateHouse Media for an undisclosed amount, Editor & Publisher reported Tuesday.
“We did not see the Arizona operation as a good strategic or geographic fit and felt we could redeploy the capital more effectively elsewhere,” Michael Reed, GateHouse CEO said in a statement.
The Arizona Silver Belt is located in Globe, Arizona. The deal was brokered by, Dirks, Van Essen & Murray, E&P reported.
“The Silver Belt made perfect sense strategically based on its proximity to our other newspapers in the Tucson area,” Mark Davis, News Media division manager, said in a statement, according to E&P.
News Media Corp. is based in Rochelle, Ill., and publishes more than 70 small and mid-sized newspapers throughout the United States.
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