TX AIM Media Texas, LLC is to acquire the Texas print and online newspaper publishing assets from Freedom Communications, Inc., of Irvine, California.Terms of the transaction were not disclosed. AIM has announced that all Freedom employees at the publications in Texas will continue in their respective jobs and positions with the new company.
The publications and affiliated web sites included in the transaction include daily newspapers in McAllen (The Monitor and http://www.themonitor.com), Harlingen (Valley Morning Star and http://www.valleymorningstar.com), Brownsville (The Herald and http://www.browsvilleherald.com), Brownsville (El Nuevo Heraldo and http://www.elnuevoheraldo.com) and Odessa (The American and http://www.oaoa.com); one 2X-weekly in Weslaco (Mid-Valley Town Crier and http://www.midvalleytowncrier.com); one weekly serving South Padre Island and Port Isabel (Coastal Current and http://www.spislandbreeze.com); and, a variety of other weekly and monthly publications and related web sites.
“Freedom Communications is one of the most respected and admired publishing and media organizations in the United States,” said Jeremy L. Halbreich, Chairman & CEO of AIM. “I have had the pleasure and good fortune of knowing many of the family members, Board members and senior executives at Freedom over the years and so we are very flattered to have this opportunity to become directly involved with these important, high-quality, local journalism organizations,” he added.
“The attractiveness of these properties is entirely due to their strong performance and the hard work of their associates,” said Freedom CEO Mitch Stern. “The sale furthers our goal of providing value to our shareholders while at the same time increasing the financial strength of Freedom”.
USA, Dallas, TX & Irvine, CA