News came yesterday that A.H. Belo, the Morning News’ parent company, has sold the Providence Journal for $46 million. Belo will retain the paper’s HQ building and some other real estate, seeking to sell those assets in a separate deal. The managing editor of the Boston Business Journal analyzes the deal from the buyer’s viewpoint (New Media Investment Group). Here’s my analysis from the seller’s viewpoint: good. Belo has now shed its distractions and is free to focus solely on its operations in North Texas (which include the Denton Record-Chronicle). It appears to have gotten a good price for the ProJo. Its stock price ticked up ever so slightly this morning. Everything looks good. (Except for the front-page story this morning in the News about Mike Miles’ contract extension. Anyone who cared about that story learned about the development when they woke up yesterday.)
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