Journal Register Puts Five Dailies On Selling Block

JOURNAL REGISTER PUTS FIVE DAILIES ON SELLING BLOCK
[SOURCE: Editor&Publisher, AUTHOR: Joe Strupp]
Journal Register Company put five of its New England daily papers up for sale Monday, according to Chairman and CEO Robert Jelenic, who said the papers in Massachusetts and Rhode Island were not making an acceptable profit. The Massachusetts papers being shopped around are The Herald News in Fall River and Taunton Daily Gazette in Taunton. In Rhode Island, the company is seeking to sell The Call in Woonsocket, The Times in Pawtucket, and the Kent County Daily Times in West Warwick. In addition, a weekly group of papers, the Southern Rhode Island Newspaper Group in Wakefield, is for sale. The properties up for sale have a combined circulation of less than 40,000. They generated revenues of approximately $39.9 million and produced operating cash flow of approximately $8.9 million for the 12 months ended June 25, 2006, the company revealed. Journal Register owns 27 daily papers and 366 non-dailies.
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