JRC completes sale of R.I. papers for $8.3M

YARDLEY, Pa. – Journal Register Co. (NYSE:JRC) today announced it has completed the sale of its Rhode Island publications to RISN Operations Inc. for about $8.3 million in cash, including working capital.

The JRC said it would use the net after-tax proceeds to pay down debt, and as general working capital.

Included in the sale are The Call, in Woonsocket; The Times, in Pawtucket; the Kent County Daily Times, in West Warwick; and the weekly Southern Rhode Island Newspaper Group, in Wakefield.

The Journal Register (www.journalregister.com) owns 24 daily newspapers, 353 non-daily publications and 229 Web sites, including the JobsInTheUS network.

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RISN Operations is a new enterprise that recently was incorporated in Delaware.

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