by: Staff May 21, 2012
Irvine, Calif.-based Freedom Communications announced Thursday it is selling its only Missouri newspaper, The Sedalia Democrat, three other Midwest publications and its Texas newspapers.
An affiliate of Philadelphia-based private equity firm Versa Capital Management LLC is buying The Democrat, The Lima News in Ohio, The Telegraph in Alton, Ill.; and The Journal-Courier in Jacksonville, Ill.
Versa Capital Management also owns Ohio Community Media, which includes 14 daily newspapers and 30 weekly papers in northern and western Ohio.
Freedom operates about 100 publications, including about two dozen daily newspapers.
A new company, AIM Media Texas, LLC, formed for the purpose of buying the properties, is purchasing Freedom's print and online assets in Texas of The Brownsville Herald, El Nuevo Heraldo, The Harlingen Valley Morning Star, The Monitor in McAllen, The Odessa American and The Mid Valley Town Crier in Weslaco.