Thomson U.S. newspapers bring $2.4 billion

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Toronto, Ontario--The Thomson Corp. announced Wednesday it has completed the sale of all of its U.S. newspaper operations, for total proceeds of $2.44 billion. In February, Thomson announced it would sell all of its newspaper operations, excluding The Globe and Mail in Canada, to concentrate on its business and professional information operations. Thomson, which still plans to sell five Canadian newspaper properties, plans to use the proceeds to pay down debt and to invest in its electronic business information properties.
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