By: Mark Fitzgerald
In yet another sign GateHouse Media Inc. will soon float its initial public offering (IPO), the acquisitive community newspaper publisher said in a U.S. Securities and Exchange Commission (SEC) filing Wednesday that it expects initial offering price to be between $16 and $18 per share.
The filing, the third amendment to its proposed prospectus, is not an IPO. GateHouse General Counsel Polly G. Sack declined to comment on the filing because the company is in its so-called quiet period.
GateHouse said it expects to offer 11.5 million shares.
GateHouse common stock will be listed on the New York Stock Exchange under the symbol “GHS,” the filing said.
Known as Liberty Group Publishing until this summer, GateHouse publishes 75 dailies with a combined paid circulation of approximately 405,000; 231 weekly papers with total paid circulation of approximately 620,000 and total free circulation of approximately 430,000; and 117 shoppers with total circulation of approximately 1.5 million.
GateHouse’s principal owner is New York City-based Fortress Investment Group LLC, which acquired the chain in June 2005.
The filing said that several directors will be added to the GateHouse board prior to the IPO, including Burl Osborne, the former publisher of The Dallas Morning News, who has been chairman of the board of The Associated Press since 2002.