Journal Communications Selling Some Assets

By: Journal Community Publishing Group Inc. said Tuesday it will sell its publishing and printing assets in Connecticut, Vermont and Ohio to Gannett Co. and Hersam Acorn Community Publishing LLC .

Financial terms were not disclosed.

The company said the sale is part of a strategy to focus more on its Wisconsin and Florida markets.

Gannett will buy the group's Central Ohio Advertiser Network, which contains eight weekly shoppers and several specialty print products. The deal also includes the group's commercial printing business, Advantage Press.

Hersam Acorn will purchase the group's Connecticut and Vermont businesses, including 11 community newspapers, two printing plants, and five shopper products. The Connecticut assets operate as "Hometown Publications" and "Trumbull Printing."

Earlier this month Journal Community said it would sell its Louisiana publishing division to a Target Media Partners affiliate. Combined, the sale price of the Louisiana, Connecticut, Vermont and Ohio operations will total about $30 million.

All the operations for sale will be listed as discontinued in the company's financial reports starting in the second quarter.

Journal Community Publishing Group is a unit of publisher and broadcaster Journal Communications Inc.


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