Hollinger International to Sell Part of Its U.S. Community Newspaper Group

Posted on November 25, 1997

Hollinger International Inc. and Leonard Green & Partners, L.P. have entered into an agreement whereby Hollinger will sell approximately 80 properties representing about 40 percent of its U.S. community newspaper group to an investment vehicle controlled by Leonard Green & Partners for a total consideration of approximately $310 million.

The properties to be sold are small market clusters of over 160 publications and include daily, weekly and free-circulation publications with a total circulation of approximately 900,000 per week. The properties are located in 11 states with the largest clusters in southern Illinois, Missouri, western New York, Pennsylvania and California. The majority of the papers were purchased prior to 1990 and include some of the very first community newspapers acquired by Hollinger.

Hollinger International Inc., through subsidiaries and affiliated companies, is a leading publisher of English language newspapers in the United States, the United Kingdom, Canada and Israel. Included among its paid daily newspapers are the Chicago Sun-Times, The Daily Telegraph and The Ottawa Citizen.