By: Staff Reports
Fidelity Sheds Weekly Papers
Herald Media Inc., parent company of the Boston Herald, has agreed to acquire the Needham, Mass.-based Community Newspaper Co. (CNC), a subsidiary of Fidelity Capital, the companies announced Thursday morning. Terms of the deal were not disclosed, but a closing of the sale is expected by November 1, 2000.
CNC owns 88 weekly newspapers and four dailies in Boston and its suburbs. CNC’s four dailies are The MetroWest Daily News, The Milford Daily News, Neponset Valley Daily News, and The Daily News Tribune. The company also operates townonline.com, a recipient of two EPpy awards in 1998.
The daily Boston Herald, privately owned by Patrick Purcell, has a paid circulation of 265,695 on weekdays, according to the Audit Bureau of Circulations. The paper competes with The Boston Globe, a New York Times Co. subsidiary.
Copyright 2000, Editor & Publisher.