FAIRPORT, N.Y. – GateHouse Media today announced it has completed its acquisition from the Journal Register Co. of seven Southeastern Massachusetts publications, at a final price of $70 million plus about $2 million in working capital.
Included in the sale were two daily community newspapers, The Herald News in Fall River and the Taunton Daily Gazette; three weekly newspapers; and two “shopper” publications, in Fall River and Taunton. The Herald News has a circulation of 20,932, and the Daily Gazette has a circulation of 9,437, the company said.
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GateHouse said it financed the acquisition with a combination of cash on hand and existing credit.
The JRC has said it will use the after-tax proceeds to pay down debt.
GateHouse Media (NYSE: GHS) owns more than 445 community publications in 18 states, and more than 235 related Web sites. Additional information is available at www.gatehousemedia.com.
