A.H. Belo extends date for sale of the Press-Enterprise
Amendment extends date to November 15 as Freedom Communications Holdings attempts to finance deal
The deadline to conclude a deal between A.H. Belo and Freedom Communications Holdings for the Riverside Press-Enterprise has been extended to November 15 as Freedom seeks financing for the deal. In compensation for the extension Freedom has paid A.H. Belo $1 million in cash, which is nonrefundable.
A.H. Belo revealed the delay in the sale in a filing with the Securities and Exchange Commission (SEC) on Monday.
Freedom Communications, the owner of the Orange County Register, is seeking to expand its reach into Riverside County with the purchase. Aaron Kushner, a former greeting card company executive, purchased Freedom with the help of private equity money, and it is assumed Freedom may have to line-up additional funding to conclude the deal.