Versa Capital Affiliate Completes Acquisition of Four Community Newspapers from Freedom Communications
PHILADELPHIA, PA – June 1, 2012 – An affiliate of Versa Capital Management, LLC (Versa) today announced the completion of its acquisition of four community newspapers from Freedom Communications, Inc.: The Telegraph in Alton, IL; The Journal-Courier in Jacksonville, IL; The Sedalia Democrat in Sedalia, MO; and The Lima News in Lima, OH.
“These four publications are an important part of their communities and are well-recognized as valuable sources of local news and information,” comments Gregory L. Segall, Versa CEO and founder. “We are pleased to welcome them into our growing community newspaper portfolio in the Midwest.”
Among Versa’s portfolio companies is Ohio Community Media, which owns and operates 14 daily newspapers and 30 weeklies serving communities in northern and western Ohio. Versa also recently acquired the Wilkes-Barre Times Leader in northeastern Pennsylvania.
Scott Champion, Chief Executive Officer of Ohio Community Media commented: “We are pleased to conclude the transaction and to add to our community newspaper platform. We look forward to continuing to serve the communities in which these papers operate with quality, locally-focused content and services, both in print and online.”
About Versa Capital Management, LLC
Philadelphia-based Versa Capital Management, LLC is a private equity investment firm with $1.2 billion of assets under management that is focused on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. More information can be found at www.versa.com
. For Ohio Community Media, see www.ohcommedia.com