Freedom Communications Announces Sale of Florida, North Carolina Properties Has Closed

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

Freedom Communications announced today that the sale of all of its newspaper properties in Florida and North Carolina to Halifax Media Group has closed.

The properties involved in the transaction include Holmes County Times-Advertiser, Bonifay, FL; Times-News, Burlington, NC; Havelock News, Havelock, NC; The Daily News, Jacksonville, NC; Free Press, Kinston, NC; The Star, Port St. Joe, FL; The Walton Sun, Santa Rosa Beach, FL; Washington County News, Chipley, FL; The Crestview News Bulletin, Crestview, FL; The Destin Log, Destin, FL; Northwest Florida Daily News, Fort Walton Beach, FL; The Gaston Gazette, Gastonia, NC; Jones Post, Kinston, NC; Santa Rosa Press Gazette and Santa Rosa Free Press, Milton, FL; Sun Journal and The Shopper, New Bern, NC; The News Herald, Panama City, FL; The Star, Shelby, NC; The Times, Apalachicola, FL and The Topsail Advertiser, Surf City, NC.

Providing value for our shareholders was a major goal of this transaction and the others weve undertaken, said Mark McEachen, Freedom Executive Vice President, Chief Operating Officer and Chief Financial Officer. At the same time we wanted to make sure current employees would transition to the new owner and that the new owner shared our view of the importance of community journalism.

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

About Freedom Communications

Freedom Communications Holdings, Inc., headquartered in Irvine, CA, is a national privately owned information and entertainment company of print publications and interactive businesses. The Companys print portfolio includes approximately 50 print publications, including seven 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 Sale of Florida, North Carolina Properties Has Closed