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JRC To Sell Two Dailies
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Business New Haven
1/8/2001
By: BNH
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TRENTON, N.J. - The Journal Register Co. (NYSE: JRC), parent of the New Haven Register and publisher of more than 20 daily newspapers, has entered into an agreement to sell two Ohio newspapers to the Copely Press Inc. The pair are the Times Reporter of New Philadelphia, O. and the Massillon (O.) Independent, with total daily circulation of 38,000. Terms of the deal were not disclosed.
Upon completion of the Copley transaction, the company will have sold five newspaper operations with daily circulation of 65,000. The company also said last month that its pro forma advertising revenues for the four weeks ended November 26 were $24.9 million, down from $25.3 million for the comparable period of 1999. Earlier the company said it was comfortable with the “low-end'' of analysts' fourth-quarter estimates of between 31 and 33 cents per share.
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