Medicine Hat News Employment
The Thomson Corporation To Sell Southern Alberta Newspapers To Horizon Publications Inc.; Lethbridge Herald & Medicine Hat News are Latest Papers to be Sold; Three Canadian Dailies Remain for Sale Business/Newspaper Editors
TORONTO, ONTARIO--(BUSINESS WIRE)--Sept. 6, 2000
The Thomson Corporation (TSE:TOC) announced today that it has signed a letter of intent to sell its Southern Alberta newspaper holdings, including two Canadian dailies, to Horizon Publications Inc. for an undisclosed amount.
Under this agreement, Thomson will sell the Lethbridge Herald and the Medicine Hat News - with a combined daily circulation of 35,500 - and their ancillary operations to Horizon Publications. Thomson expects the sale to be completed during the fourth quarter.
Richard J. Harrington, President and Chief Executive Officer of The Thomson Corporation, said, "We are delighted that our Southern Alberta Strategic Marketing Group is going to such a good home. Our operations in Lethbridge and Medicine Hat have been tremendous assets, and we have no doubt they will continue to flourish under their new owners."
Stuart Garner, President and CEO of Thomson Newspapers, said, "Our newspapers in Southern Alberta have been highly successful primarily because of the top quality of their staffs and their hard work, commitment, and focus on customer service. As a result, the new owner will inherit thriving businesses fully in tune with their respective communities."
In February, Thomson announced it would sell all of its newspaper operations, excluding The Globe and Mail, in order to focus on its global, technology-driven business and professional information operations. To date, the Company has announced the sale of all of its 49 US daily newspapers. Thomson anticipates the divestiture of its three remaining Canadian dailies to be completed by the end of 2000 or early the following year.
The proceeds generated from the sale of Thomson Newspapers are being used initially to reduce debt and to provide additional borrowing capacity to meet Thomson's investment needs as it continues to grow its e-information and solutions businesses through organic development and acquisitions. Consistent with this strategy, Thomson this year announced agreements to acquire Primark and Carson Group, and the successful completion of the acquisitions of Prometric, Wave Technologies, Dialog's online business, and IOB.
The Thomson Corporation (www.thomson.com), with 1999 revenues of US$5.8 billion, is a leading, global e-information and solutions company in the business and professional marketplace. Thomson's common shares are listed on the Toronto and London Stock Exchanges.
This news release includes forward-looking statements, which are based on the Corporation's current expectations and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to materially differ from those anticipated. Such risks and uncertainties include, among others, general business and economic conditions and competitive actions.
Note: A complete list of the newspapers being sold to Horizon Publications Inc., along with the current sales status of Thomson's other newspaper transactions is attached.
Thomson Newspapers sales status as of September 5, 2000
Thomson Newspapers strategic marketing groups and daily newspapers
Non-daily newspapers indented
Alphabetically by state, then by province/Canadian region
1. Alabama SMG - sale finalized to Media General, Inc.
The Dothan Eagle
Enterprise Ledger
Opelika-Auburn News
Jackson County Floridan (Marianna)
The Auburn Bulletin
The Dothan Progress
The Ashford Power
The Headland Observer
2. Phoenix SMG - sale finalized to Freedom Communications, Inc.
The Tribune (Mesa)
Daily News-Sun (Sun City)
Prospector (Glendale, Peoria)
Surprise Today
Ahwatukee Foothills
3. Yuma, Arizona - sale finalized to Freedom Communications, Inc.
The Yuma Daily Sun
Bajo El Sol (Yuma)
Cactus Comet (Yuma)
4. Southern Connecticut SMG--sale pending to MediaNews Group, Inc.
Connecticut Post (Fairfield Co.)
Darien News Review
Fairfield Citizen News
Inside Fairfield County
Norwalk Citizen News
Westport News
5. Florida Keys SMG - sale finalized to Cooke Communications LLC
Key West Citizen
Big Pine Free Press
Islamorada Free Press
Key Largo Free Press
Marathon Free Press
Reef Press (Ocean Reef)
Solares Hill (Key West)
6. Thomson South Georgia - sale finalized to Community Newspaper
Holdings, Inc.
Americus Times-Recorder
Cordele Dispatch
The Moultrie Observer
Thomasville Times-Enterprise
The Tifton Gazette
The Valdosta Daily Times
Coffee County News (Douglas)
Suwannee Democrat (Live Oak, Florida)
The Branford News (Florida)
The Jasper News (Florida)
The Mayo Free Press (Florida)
Excalibur (Valdosta)
7. Thomson Indiana - sale finalized to CNHI
The Herald Bulletin (Anderson)
Greensburg Daily News
Kokomo Tribune
The Lebanon Reporter
Linton Daily Citizen
Pharos-Tribune (Logansport)
Rushville Republican
Tribune Star (Terre Haute)
Batesville Herald-Tribune
Employment Weekly (Central Indiana)
The Highflyer (Hamilton County)
Hamilton County Image
Hancock County Image
Hendricks County Flyer
Zionsville Times Sentinel
8. Thomson South Louisiana - sale finalized to Gannett Co., Inc.
The Daily Advertiser (Lafayette)
The Times of Acadiana
9. Thomson Chesapeake - sale finalized to Gannett Co., Inc.
The Daily Times (Salisbury, Maryland)
Delaware Wave (Bethany)
Chincoteague Beacon
Virginia Beachcomber (Chincoteague)
Somerset Herald (Princess Anne, Maryland)
Worcester County Messenger (Ocean City, Maryland)
Ocean Pines Independent Maryland Times-Press (Ocean City and
Berlin, Maryland)
Maryland Beachcomber (Ocean City)
Delaware Coast Press (Rehoboth)
Delaware Beachcomber (Rehoboth)
Eastern Shore News (Tasley, Virginia)
10. Cumberland, Maryland - sale finalized to CNHI
Cumberland Times-News
Garrett County Weekender (Oakland)
Potomac Highlands (Keyser, West Virginia)
Frostburg Express
11. Canton, Ohio - sale finalized to The Copley Press, Inc.
The Repository (Canton)
The Suburbanite (Summit County)
12. Thomson Central Ohio - sale finalized to Gannett Co., Inc.
Telegraph-Forum (Bucyrus)
Chillicothe Gazette
Coshocton Tribune
Lancaster Eagle-Gazette
News Journal (Mansfield)
The Marion Star
The Advocate (Newark)
Times Recorder (Zanesville)
Granville Booster
Granville Sentinel
Pataskala Standard
The Muskingum Valley Merchandiser
13. Thomson Southwest Ohio - sale finalized to Cox Newspapers, Inc.
Journal-News (Hamilton)
The Middletown Journal
Franklin Chronicle
Pulse Journal (Mason/West Chester)
Oxford Press
Fairfield Echo
The Western Star (Lebanon)
Star Press (Springboro)
Today's Express (Morrow)
Monroe Times
Miamisburg News-West Carrollton News
The Germantown Press
14. Thomson Carolina - sale finalized to Media General, Inc.
Morning News (Florence, South Carolina)
News & Post (Lake City, South Carolina)
Weekly Observer (Hemingway, S. Carolina)
Marion Mullins (South Carolina)
15. Thomson West Virginia/Virginia - sale finalized to CNHI
The Register-Herald (Beckley, WV)
Bluefield Daily Telegraph (WV)
The Fayette Tribune (Oak Hill, WV)
Montgomery Herald (WV)
Princeton Times (WV)
16. Winnebago SMG (Wisconsin) - sale finalized to Gannett Co., Inc.
Oshkosh Northwestern
The Post-Crescent (Appleton)
The Reporter (Fond du Lac)
Herald Times Reporter (Manitowoc)
The Sheboygan Press
Shoreline Chronicle (Sheboygan)
The Bargain Bulletin (Appleton)
Lakeshore Chronicle (Manitowoc)
Menasha Register
Neenah Citizen
17. Central Wisconsin SMG - sale finalized to Gannett Co., Inc.
Marshfield News-Herald
Stevens Point Journal
Daily Tribune (Wisconsin Rapids)
Central Wisconsin Sunday
18. St. George, Utah - sale finalized to Gannett Co., Inc.
The Spectrum
Desert Valley Times (Mesquite)
19. Canada's National Newspaper - not for sale
The Globe and Mail (based in Toronto, Ontario)
20. Central Canada SMG - sales process ongoing
Brandon Sun (Manitoba)
Winnipeg Free Press (Manitoba)
The Chronicle-Journal (Thunder Bay, Ontario)
Kenora Enterprise (Ontario)
21. Southern Alberta SMG - sale pending to Horizon Publications Inc.
Lethbridge Herald
Medicine Hat News
The Commentator (Bow Island)
Coaldale News
Prairie Post (Swift Current, Saskatchewan, and Medicine Hat)
Southern Sun Times (Lethbridge)
Taber Times
Vauxhall Advance
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