Dow Jones sells four newspapers to Community Newspaper Holdings

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New York--Dow Jones & Co., publisher of The Wall Street Journal, signed a definitive agreement Friday to sell four of its Ottaway Newspapers Inc. properties to privately held Community Newspaper Holdings Inc. for $182 million in cash. The newspapers--The Joplin Globe, Joplin, Mo.; The Daily Independent, Ashland, Ky.; The Free Press, Mankato, Minn.; and The Herald, Sharon, Pa.--had combined revenue of $47 million and operating income of $12 million in 2001. Ottaway will continue to publish 15 daily and more than 30 weekly newspapers in 10 states, with combined 2001 revenue of $301 million and daily circulation of about 444,000.
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