New Media to buy family-owned 'Columbus Dispatch'

June 3, 2015 5:15 PM

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The paper's owner, Dispatch Printing Company, has agreed to sell its publishing operations to the New Media Investment Group, a holding company based in New York City.

Terms of the deal were not disclosed, but New Media said it plans to pay with a combination of cash and $25 million loan. It expects to complete the acquisition in the second quarter of 2015.

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