Anschutz Buys Journal Newspapers

Posted Friday, October 1, 2004 12:00 am

By: E&P Staff Denver billionaire Philip Anschutz added another group of newspapers to his holdings. Yesterday, he purchased Journal Newspapers in Alexandria, Va., which includes the free dailies Northern Virginia Journal, Montgomery Journal, and Prince George's Journal, through a newly formed investment arm, Clarity Media of Denver.

Two Denver Post alums head Clarity Media: former President and Publisher Ryan McKibben and former CFO Frederick Anderson.

Terms of the deal were not disclosed, but analyst John Morton told the Denver Post he estimated the transaction was between $50 million to $75 million.

In February, Anschutz bought The Examiner in San Francisco for a widely reported but unconfirmed $20 million.

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Anschutz Buys Journal Newspapers

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