Freedom Communications Inc. in Irvine today announced the sale of its Texas newspapers to AIM Media Texas LLC. Freedom owns The Orange County Register. <\/p>\n
Terms of the Texas deal were not disclosed. Freedom said the sale is expected to close in 30 days. <\/p>\n
Freedom Communications Inc. is based in Irvine. <\/p>\n
CINDY YAMANAKA, THE ORANGE COUNTY REGISTER <\/p>\n
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The papers sold include The Brownsville Herald, El Nuevo Heraldo, The Harlingen Valley Morning Star, The Monitor in McAllen, The Odessa American and The Mid Valley Town Crier in Weslaco. <\/p>\n
\"The attractiveness of these properties is entirely due to their strong performance and the hard work of their associates,\" said Mitch Stern, Freedom's chief executive. \"The sale furthers our goal of providing value to our shareholders while at the same time increasing the financial strength of Freedom.\" <\/p>\n
It was Freedom's second announcement of a sale of a group of regional papers in as many days. <\/p>\n
On Thursday, Freedom said it sold its four Midwestern papers to an affiliate of Versa Capital Management LLC, a Philadelphia-based private equity <\/p>\n
Freedom has been in the process of selling off its properties since exiting bankruptcy reorganization in April 2010. <\/p>\n<\/p>\n
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Freedom Communications sells Texas papers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Freedom Communications Inc. in Irvine today announced the sale of its Texas newspapers to AIM Media Texas LLC. Freedom owns The Orange County Register. Continue reading