Server: Netscape-Enterprise/2.01 Date: Fri, 19 Dec 1997 04:11:14 GMT Accept-ranges: bytes Last-modified: Wed, 22 Oct 1997 19:18:34 GMT Content-length: 3301 Content-type: text/html Lee Enterprises News Release, 9/8/97


News Release

For Immediate Release Sept. 8, 1997

 

Lee Enterprises completes acquisition of Pacific Northwest Publishing Group from ABC

DAVENPORT, Iowa Lee Enterprises, Incorporated today announced completion of the acquisition of the Pacific Northwest Publishing Group from ABC, Inc., an indirect subsidiary of The Walt Disney Company. The purchase price was approximately $185 million for two daily newspapers and 22 weekly and specialty publications. The announcement was made by Richard D. Gottlieb, president and CEO.

Gottlieb said, "We are delighted to acquire these fine publications. It's a good fit and with our presence already in the Northwest with KOIN-TV in Portland, the Corvallis Gazette-Times in Corvallis, and our western Montana newspapers in Billings, Butte, Helena and Missoula, we can take advantage of multiple product sales opportunities and the effectiveness of grouping our resources together to better serve our customers."

Dick Anderson, who operated the group for ABC, will join Lee Enterprises and continue in his present position. Anderson said, "We're all pleased to be joining a media company whose business is concentrated in publishing and broadcasting. Lee has a long history of quality products, good treatment of employees and continued business growth."
   Dick Anderson

Lee Enterprises, headquartered in Davenport, Iowa, owns and operates nine full-service network affiliated television stations and seven satellite television stations and publishes 21 daily newspapers and 63 weekly and specialty publications.

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