Media General Completes Sale of Kentucky Newspapers

Posted on June 3, 1998

Media General announced the completion of the sale of the assets of its Kentucky publications for approximately $23.8 million to Community Newspapers Holdings, Inc. The publications include The Commonwealth-Journal in Somerset, Ky., a daily with a circulation of approximately 8,700, as well as a group of 17 tri- weekly, weekly and free distribution publications in 10 Kentucky counties.

The Kentucky papers were sold in conjunction with the planned purchase of The Hickory Daily Record, a 20,000 circulation daily and Sunday newspaper in western North Carolina. That transaction is scheduled to close shortly. After the Kentucky sale and the North Carolina purchase, Media General will operate 21 daily newspapers and more than 100 weekly and other publications in Virginia, North Carolina and Florida.

Media General is an independent, publicly owned communications company situated primarily in the Southeast, with interests in newspapers, broadcast and cable television, recycled newsprint production, and diversified information services.