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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