HOLLINGER SELLS REMAINING U.S. NEWSPAPERS

By: Staff reports

Four Buyers Purchase Papers for $215 Million





On Wednesday, Hollinger International Inc. completed the huge
sell-off of North American newspapers that it announced as strategy
earlier this year. Executives in New York said the company has
reached agreements to sell its remaining U.S. community newspapers
for $215 million to four separate buyers.



This follows the company’s $1.5 billion sale of its Canadian assets
which was announced Monday.



The American properties sold Wednesday include 11 paid dailies,
three paid non-dailies and 31 shoppers – located in the West,
Midwest, and Northeast. The four buyers are Bradford Publications
Co., Newspapers Holdings Inc., Paxton Media Group Inc., and Forum Communications Co. Sales are expected to be completed in the fourth
quarter.



Hollinger’s significantly slimmed-down newspaper portfolio includes
the Chicago Sun-Times, The Jerusalem Post, and 50% of Canada’s
National Post.





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Staff Reports





Related story:


HOLLINGER SELLS CANADIAN ASSETS (07/31/00)













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