The McClatchy Co. released the individual cash sales figures for the 5 "Orphan" newspapers it sold last week. The information was contained in filings McClatchy submitted to the Securites and Exchange Commission.
The News Sentinel ("News Publishing Co.") was sold to Ogden Newspapers for $92,561,000.00 cash and the assumption of certain liabilities.
Liabilities retained by McClatchy include "up to a maximum amount of $340,000 in the aggregate, for the claims incurred by Business Employees prior to the Closing Date under the Knight Ridder Group Medical Benefit Plan for Employees and Retirees (Blue and Green Option)."
You may view the full terms of the Purchase Agreement executed between McClatchy and Ogden Newspapers here.
The total values of the assumption of pension obligations, assumption of debt for the financing of the new press, and other liabilities were not announced.
The Exhibits and Schedules which are attached to and made part of the purchase agreement were not made public by McClatchy.
More: Purchase Agreement between McClatchy and Indiana-based Schurz Communications, Inc. for purchase of the Aberdeen News American.
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