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American Community Newspapers LLC Completes Sale Process

Posted on: Monday, 29 June 2009, 15:52 CDT

DALLAS, June 29 /PRNewswire/ -- American Community Newspapers II LLC ("ACN II"), a newly-formed company, today completed the acquisition of the assets of American Community Newspapers LLC ("ACN"). This transaction follows the receipt of court approval of the sale of ACN's assets and its subsidiaries, which was given on June 2, 2009, and completes the 363 sale process.

ACN II does not anticipate any change to the day to day operating activity of its newspapers and Web sites as a result of the new ownership. Its publications will continue to serve their local communities, readers and advertisers without interruption.

"This transaction allows us to move forward with a healthier balance sheet and increased financial flexibility," said Gene Carr, Chief Executive Officer and Director of ACN II. "We remain committed to the community newspaper model and the hyper-local approach to delivering news and information in the communities in which we operate. The commitment and professionalism of our employees has been incredible during the sales process and has aided us in completing this transaction in a timely and efficient manner. We look forward to continuing to provide our readers and advertisers with outstanding service in the years ahead."

About American Community Newspapers II LLC

ACN II is a community newspaper publisher in the United States, operating within four major U.S. markets: Minneapolis - St. Paul; Dallas; Northern Virginia (suburban Washington, D.C.); and Columbus, Ohio. These markets are some of the most affluent, high growth markets in the United States, with ACN II strategically positioned in many of the wealthiest counties within each market. ACN II's goal is to be the preeminent provider of local content and advertising in any market it serves.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," " seek, " "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions.

SOURCE American Community Newspapers II LLC

Source: PR Newswire

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