Freedom Communications sells Texas and Midwest properties
Odessa American | Orange County Register | Freedom
Freedom Communications announced the sale today of its Texas newspapers, including The Brownsville Herald, The Odessa American and The Harlingen Valley Morning Star. This follows news Thursday that it sold four Midwestern papers. AIM Media, headed by former Sun-Times Media CEO Jeremy L. Halbreich, will own the Texas properties; Versa Capital Management, which recently bought Wilkes-Barre, Pa.'s Times Leader, purchased the Midwestern properties.
Two years ago, Poynter's Rick Edmonds wondered whether Freedom, which emerged from a bankruptcy heavily in debt, was looking to "sell some of the properties, keep others and reposition the company by investing the proceeds in digital ventures." Writing in Freedom's flagship Orange County Register, May Ann Milbourn says, "There has been no announcement about the status of the Register." Freedom announced the sale of its broadcast division to Sinclair last November. That deal closed in April, and, Milbourn reported Thursday, "left Freedom free of the $325 million in debt it had after emerging from bankruptcy."
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