GateHouse Sells Arizona Paper

Posted Tuesday, May 6, 2008 12:00 am

By: E&P Staff GateHouse Media has sold the Arizona Silver Belt in Globe, Ariz., to News Media Corp. for an undisclosed sum.

Dirks, Van Essen & Murray brokered the deal.

In a statement GateHouse CEO Michael Reed said, "We did not see the Arizona operation as a good strategic or geographic fit and felt we could redeploy the capital more effectively elsewhere."

News Media Corp., based in Rochelle, Ill., publishes more than 70 small and mid-sized newspapers throughout the country including Arizona.

"The Silver Belt made perfect sense strategically based on its proximity to our other newspapers in the Tucson area," Mark Davis, News Media division manager, said in a statement.

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GateHouse Sells Arizona Paper

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