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HERALD MEDIA TO PURCHASE
LANCASTER TIMES &
Herald Media Inc. owner Patrick J.
Purcell and Lancaster Times Inc. publish-
er Paul Della Valle have reached an
agreement for Herald Media to purchase
The Lancaster Times & Clinton Courier
and MotherTown, its monthly magazine.
Purcell said, "The Lancaster Times &
Clinton Courier and MotherTown are
well respected local publications. We
look forward to continuing this tradition
as we expand our coverage into these
The Lancaster Times was founded in
1996. The Clinton Courier was added in
1999, the same year MotherTown was
first published. The Times and Courier
were merged in 2002.
The Lancaster Times & Clinton Courier
was a finalist for the New England Press
Association's Newspaper of the Year
award in both 2000 and 2001. The Times
& Courier also won 38 NEPA awards for
excellence between 2000 and 2003.
NORTHWEST HERALD AND
CBS 2 CHICAGO FORM
The Northwest Herald (IL) and CBS 2
Chicago started a formal news-sharing
partnership in mid-February.
As media partners, the Northwest Herald
provides CBS 2 Chicago news from
McHenry and northern Kane counties.
CBS 2 Chicago will provide the
Northwest Herald news from across the
Chicago metropolitan area. Together, the
mediums offer their readers and viewers
more comprehensive coverage.
"Purpose is what separates this from the
vast majority of newspaper-TV relation-
ships in the Chicago market," Northwest
Herald editor Chris Krug said. "This isn't
about marketing. This is about news, and
each medium sharing the best it has to
offer with the other. CBS 2 Chicago
exemplifies excellence in local broadcast-
ing, and gives us the city and the near
suburbs. We give CBS 2 Chicago unpar-
alleled coverage of McHenry and north-
ern Kane counties."
POWERONE MEDIA SELLS
FRANCHISE SOLUTIONS DIVI-
SION TO LANDMARK
In a move to focus effort and resources
on its core business, PowerOne Media
sold wholly owned subsidiary Franchise
Solutions to Landmark Communications.
Franchise Solutions provides lead genera-
tion and franchise marketing solutions to
many of North America's leading busi-
PowerOne has been steadily reshaping its
holdings toward its single focus of pro-
viding online business solutions to local
media partners, and determined it was
time to leverage the value of an asset that
was less central to its priorities. The com-
pany intends to realign resources toward
its quickly growing online media busi-
"While Franchise Solutions was a suc-
cessful business for us, it was not syner-
gistic with our current strategy" noted
Lorren Elkins, CEO of PowerOne, "This
deal helps us focus the business and capi-
talize new investments in our core prod-
PULITZER CHOOSES LEE
ENTERPRISES TO CONTINUE
ITS NEWSPAPER LEGACY
Lee Enterprises, Incorporated (NYSE:
LEE), and Pulitzer Inc. (NYSE: PTZ)
have entered into a definitive agreement
for Lee to acquire Pulitzer for a cash
purchase price of $64 per share, with
enterprise value totaling $1.46 billion.
Pulitzer operates 14 daily newspapers,
including the St. Louis Post-Dispatch,
founded by legendary publisher Joseph
Pulitzer in 1878. Pulitzer also operates
more than 100 weekly newspapers,
shoppers, and niche publications,
including the Suburban Journals of
Greater St. Louis.
Lee will become the fourth largest U.S.
newspaper publisher in terms of dailies
owned and seventh largest in circula-
tion, growing from 44 to 58 daily news-
papers in 23 states, with new total cir-
culation of 1.7 million daily and 2.0
million Sunday. Combining calendar
2004 results, Lee's revenue will rise by
more than $440 million, to $1.14 bil-
Among other aspects of the acquisition,
Lee will gain a small minority stake in
the St. Louis Cardinals major league
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