AUGUSTA, Ga. (AP) -- Morris Communication Company's publishing arm is planning to sell 14 daily newspapers and other properties, including The Oak Ridger in Tennessee.
The buyer is GateHouse Media and the sale price is $115 million in cash.
Morris Publishing Group said Tuesday it will use proceeds from the sale to pay down debt. The transaction is expected to close before the end of November and is subject to regulatory approval and approval by Morris Publishing's lenders.
Fairport, N.Y.-based GateHouse Media is one of the largest publishers of locally based print and online media in the United States. The New York Stock Exchange-traded company has more than 450 publications, including 90 daily newspapers, in 20 states.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
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