By Kevin McCauley
OC REGISTER PARENT SOLD
Freedom Communications, parent company of the Orange County Register, has been acquired by 2100 Trust LLC, a Massachusetts-based equity company that has had its eye on the Boston Globe.
The deal also includes California papers Barstow Desert Dispatch, Marysville Appeal-Democrat, Victorville Daily Press, Porterville Recorder plus The Sun in Yuma, Ariz. and The Gazetter of Colorado Springs.
“While providing the value that our shareholders have sought, this transaction also ensures Freedom’s communities that our newspapers serve will continue to receive the outstanding service that has been our hallmark,” said Freedom CEO Mitch Stern said in a statement. “Our employees will be able to continue the community journalism at which they so excel.”
Aaron Kushner, CEO of 2100 Trust, is happy to lead the “hard-working and talented employees of Freedom Communications in serving these communities.”
He believes “newspapers are essential to the fabric of our lives and are excited to own and grow these unique institutions.”
The deal marks a two-year sell-off process by Freedom, which emerged from bankruptcy in 2010.
Last November, Freedom unloaded its eight-member TV group to Sinclair Broadcast Group for $385M.
Raymond Cyrus “R.C.” Hoiles bought what is now the Orange County Register in 1935 as the foundation for Freedom.
Kushner, who was head of Marian Heath Greeting Cards, launched the 2100 Trust in 2009.
42WEST PRO TO RYAN SEACREST
Kelly Mullens, who handled PR for Ryan Seacrest Productions while serving as executive VP at 42West, will join the company as its first PR executive on July 9.
She will be in charge of communications, business development, marketing, community relations, sponsorship and philanthropy. Mullens will report to Seacrest and work closely with CEO Adam Sher.
RSP is home of “Keeping Up with the Kardashians,” “Shahs of Sunset,” and “Jamie Oliver’s Food Revolution.”
Mullens served as managing director of the strategic communications division at 42West. She counseled DreamWorks Animation, Producers Guild of America, Rolex, Sony, Chernin Entertainment and HTC.
Earlier, Mullens was at Sitrick and Co., Sony and Universal Music Group.
WARNER BROS GETS 'GOSSIP GIRL'
Warner Bros. Television Group has acquired Alloy Entertainment, creator of teen-age and young women content, from an investor group headed by Zelnick Media.
WBTVG has been distributor of Alloy Entertainment TV shows such as “Gossip Girl,” “Pretty Little Liars,” “The Vampire Dairies” Lying Game” and soon-to-be-released “666 Park Avenue.”
Alloy also produced Warner movies, “Sisterhood of the Traveling Pants,” and “The Clique” and markets book tie-ins.
Leslie Morgenstein, chief of AE and its predecessor 17th Street Productions company since 1999, will run the company under WBTVG.
WBTVG and Alloy have “enjoyed consistent success together on a number of terrific projects over the last decade," said WBTVG president Bruce Rosenblum in a statement. “Alloy Entertainment's creative and talented team of executives has a unique ability to tap into a young female audience and create content that resonates across multiple platforms.”
The transaction is expected to close during the third quarter.
|