DALLAS & SANTA ANA, Calif.--(BUSINESS WIRE)--Nov. 21, 2013--
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.
Source: A. H. Belo Corporation
A. H. Belo Corporation
Alison K. Engel, 214-977-2248
Senior
Vice President/Chief Financial Officer
www.ahbelo.com
or
Freedom
Communications Holdings, Inc.
Eric Morgan, 714-796-2460
emorgan@freedom.com
