Orange County Register and other Newspapers Acquired by Aaron Kushner Led Group
A group led by Boston-based investor Aaron Kushner has acquired the company that publishes the Californian title, the Orange County Register, and several other smaller newspapers. The purchase is expected to be completed within 30 days.
New York, June 13 (SharewellNeswire.com) - The company that publishes the Californian title, the Orange County Register, and several other smaller newspapers has been acquired by a group led by Boston-based investor Aaron Kushner. It is expected that the purchase of Freedom Communications will be completed within 30 days by Kushner’s group, 2100 Trust LLC.
Freedom has been selling its papers and broadcasting outlets since it came out of its bankruptcy protection in April 2010 and it will be completely dismantled with the present sale. Kushner has been nurturing ambitions of becoming a press proprietor but his earlier attempts of buying Boston Globe and Maine’s Portland Press Herald have failed miserably. The former chief of a greetings card company said that this time he will have a successful purchase as he believes that newspapers are essential to the fabric of our lives.
According to the latest circulation audit, the Orange County Register is the 19th largest newspaper in the US and its print edition sold an average of 161,000 copies on weekdays and 280,000 Sundays for the six months up to 31 March.
The acquisition by 2100 Trust in order to become a publisher comes at a time when newspapers are beset with a plethora of challenges including sliding readership and declining advertising that are moving more toward the digital format.