Freedom Communications, the parent company of the Orange County Register, today completed its purchase of the Riverside Press-Enterprise for $27.25 million. Freedom, headed by Aaron Kushner, gets the production facility and the land. The seller, A. H. Belo, previously had made noise about the purchase not closing on time. From today's flackage:
Aaron Kushner, co-owner and Chief Executive Officer of Freedom Communications, said, "We appreciate the stewardship provided by A. H. Belo to The Press-Enterprise, an institution that plays an incredibly important role in building community and adding richness to people's lives. Our focus moving forward will be to enhance the ways we can provide value to subscribers of The Press-Enterprise and the greater community."
Jim Moroney, Chairman, President and Chief Executive Officer of A. H. Belo, said, "We are pleased the transaction has closed, and wish our colleagues in Riverside all the best as they go forward as part of Freedom Communications."