Horizon Buys 10 CNHI Papers

Posted Tuesday, May 20, 2003 12:00 am

By: Lucia Moses Keeping with its ongoing strategy to focus on bigger papers, Community Newspaper Holdings Inc. (CNHI) announced it sold 10 of its smallest dailies to community newspaper publisher Horizon Publications. Terms were not disclosed.

Included in the deal were seven paid weeklies and several shoppers, said CNHI President and CEO Michael E. Reed. The papers sold were spread across Texas, Oklahoma, Nebraska, Indiana, and Pennsylvania.

CNHI continues to seek buyers for 23 papers in the South and Midwest it had agreed to sell to Brown Publishing Co. Brown withdrew its offer in April after both parties failed to agree on financing terms.

The sale leaves CNHI with 96 dailies in 20 states with a combined daily circulation of more than 1 million.

Horizon, based in Marion, Ill., now has 23 small dailies, spread mostly across the South and Midwest.

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Horizon Buys 10 CNHI Papers

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