IRVINE, Calif.--(BUSINESS WIRE)--

Freedom Communications announced today that the sale of the print and online publishing assets of four Midwest newspapers to an affiliate of Versa Capital Management, LLC has closed. The four newspapers involved are The Telegraph in Alton, IL, The Journal-Courier in Jacksonville, IL, The Sedalia Democrat in Sedalia, MO and The Lima News in Lima, OH.

The terms of the transaction were not disclosed. Substantially all of the employees of the four newspapers transitioned to the new ownership.

This transaction presented an excellent opportunity to enhance the value of our shareholders investments while also ensuring that the communities involved will continue to receive great service, said Mark McEachen, Freedom Executive Vice President, Chief Operating Officer and Chief Financial Officer.

Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors to Freedom.

About Freedom Communications

Freedom Communications, headquartered in Irvine, Calif., is a national privately owned information and entertainment company of print publications and interactive businesses. The Companys print portfolio includes approximately 100 publications, including 20 daily newspapers, weekly newspapers, plus ancillary magazines and other specialty publications. The Companys news, information and entertainment websites and mobile applications complement its print properties. For more information, visit http://www.freedom.com.

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Freedom Communications Announces Close of Sale of Four Midwest Newspapers