GateHouse Media completes <br>purchase of JRC papers

FAIRPORT, N.Y. – GateHouse Media has completed its acquisition of seven newspapers in southeastern Massachusetts from the Journal Register Co., 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.
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 owns more than 445 community publications in 18 states and more than 235 related Web sites.