SAN FRANCISCO (Thomson Financial) - GateHouse Media Inc. late Tuesday said it has agreed to acquire several daily and non-daily publications from Morris Publishing Group for $115 million.
The Fairport, N.Y.-based publisher said it expects the acquisition to generate an incremental $14 million of adjusted earnings before interest, taxes, depreciation and amortization.
The publications are located in South Dakota, Florida, Kansas, Michigan, Missouri, Nebraska, Oklahoma and Tennessee, the company said.
The deal is expected to close before the end of November and is subject to regulatory approval and closing conditions.
Shares of GateHouse Media closed the regular session down 15 cents at $11.25. Katherine Hunt kh COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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