A.H. Belo To Sell Riverside Newspaper Unit For $27.25 Mln - Quick Facts

(RTTNews) - A.H. Belo Corp. (AHC) and Freedom Communications Holdings Inc. jointly announced Thursday they have entered into a definitive asset purchase agreement by which Freedom Communications Holdings will acquire substantially all of the assets which comprise the newspaper operations of The Press-Enterprise located in Riverside, CA , which includes the production facility and related land, for $27.25 million.

The transaction is expected to close in mid-October subject to customary closing conditions.

Upon closing, A. H. Belo will continue to own and market for sale the land and buildings associated with a discontinued commercial printing operation in Riverside, CA.The Press-Enterprise will maintain its primary business offices in Riverside.

A. H. Belo said that the proceeds received in this transaction will provide funds for the company to continue to diversify its revenue streams and increase shareholder returns in the future.