LEXINGTON, Ky., April 7 /PRNewswire-FirstCall/ -- Community Newspaper
Holdings, Inc. (CNHI) and Triple Crown Media, Inc. (Nasdaq: TCMI) announced
today they are exchanging certain newspaper properties. TCMI will acquire
The Clayton Daily News, Jonesboro, GA; The Henry Herald, McDonough, GA; and
the Progress-Argus, a weekly in Jackson, GA.
CNHI will receive in exchange, the Goshen News of Goshen, IN.
Other terms of the transaction were not released.
Donna Barrett, CEO of CNHI said, "While we have enjoyed our opportunity
to compete in the suburban Atlanta market, we think the Goshen News is a
better fit for our company's overall strategic direction. We look forward
to becoming part of the Goshen community and are confident that Triple
Crown Media will be quite successful with these acquisitions."
Tom Stultz, President & CEO of TCMI said, "It is difficult to let go of
a great newspaper like The Goshen News that has been so successful for us
under the management of Publisher John Reynolds. At the same time, we are
delighted to add three newspapers to our growing Georgia newspaper
operations. We feel this is a great fit for both companies and look forward
to working with the management of our newly acquired Georgia papers and
serving these growing communities."
TCMI also owns The Albany Herald, the Gwinnett Daily Post, the Rockdale
Citizen and the Newton Citizen, all in Georgia.
CNHI, based in Birmingham, Ala., is an independent, privately-owned
publishing company whose holdings include daily and weekly newspapers along
with shopper and specialty publications. The company currently operates 90
daily newspapers and approximately 210 non-daily publications in more than
200 communities throughout the United States.
With the swap, Triple Crown Media owns and operates six daily
newspapers and one weekly newspaper, and is a leading provider of primarily
paging and other wireless services in non-major metropolitan areas in
Alabama, Florida and Georgia, where it also operates 14 retail locations.
Triple Crown Media, through its subsidiary, Host Communications, Inc., is
engaged in the Collegiate Marketing and Production Services business and
Association Management Services business. The Collegiate Management and
Production Services business provides sports marketing and production
services to a number of collegiate conferences and universities and,
through a contract with CBS Sports, on behalf of the National Collegiate
Athletic Association. The Association Management Services business provides
various associations with services such as member communication,
recruitment and retention, conference planning, Internet web site
management, marketing and administration. The company is based in
Lexington, KY.
Cautionary Statements for Purposes of the "Safe Harbor" Provisions of
the Private Securities Litigation Reform Act
Except for the historical information contained herein, information set
forth in this news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, including,
without limitation, statements concerning expected benefits of the exchange
of newspapers described herein. In addition, words such as "expects,"
"anticipates," "intends," "plans," "believes," "estimates," and variations
of such words and similar expressions that indicate future events and
trends are intended to identify such forward-looking statements. These
forward-looking statements are subject to risks and uncertainties, which
could cause the company's actual results or performance to differ
materially from those expressed or implied in such statements.
SOURCE Triple Crown Media, Inc.
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Related links:
http://www.triplecrownmedia.com
CONTACT:
Thomas J. Stultz, President & CEO,
+1-859-226-4356, or Frederick J. Erickson, Chief Financial
Officer, +1-859-226-4376, both of Triple Crown Media, Inc.; or
Donna Barrett, President & CEO, +1-205-298-7126, or Lynn Pearson,
Chief Financial Officer, +1-205-298-7117, both of CNHI
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