New Media Investment Group Inc. has completed the acquisition of substantially all of the assets of Halifax Media Group for $280 million, subject to working capital adjustments. The purchase price was funded with a combination of cash on the balance sheet, incremental debt under the Company’s existing credit facility, as amended, and the assumption of debt from Halifax.
Halifax Media is a leading newspaper publisher serving communities primarily in the southeastern portion of the United States. Halifax publishes 36 newspapers, including 24 dailies, and affiliated websites, and has a total daily circulation of approximately 635,000 and 752,000 on Sunday.
USA, New York & USA, Daytona Beach, FL
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