SP Newsprint Company announced a deal to be bought by White Birch Paper Company for 350 million in cash. That cash will be going in equal shares to three newspaper companies who currently own SP – Media General, The McClatchy Company and the newspaper division of Cox Enterprises. Media General announced that it expects after-tax proceeds from its share to be 37-40 million, which it will use for debt reduction.
Sign up for free to get:
The Daily Intelligence Report delivered to your inbox.
RBR+TVBR delivers complete broadcasting news analysis and our famous observations.