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Board Opts for Minority Investor to Keep Freedom Communications in Family.
Knight Ridder/Tribune Business News, October, 2003
The Orange County Register, Calif. Knight Ridder/Tribune Business News
Oct. 15--Freedom Communications Inc. said Tuesday that it has struck a deal with investors that keeps the company in family hands and maintains the libertarian legacy of founder and patriarch Raymond C. Hoiles.
Irvine-based Freedom, parent of the Orange County Register, had been wooed by media giants Gannett Co. Inc., publisher of USA Today, and Denver-based MediaNews Group, owner of the Denver Post and the Los Angeles Daily News. Instead, Freedom's board agreed Monday to partner with East Coast investment firms, Blackstone Communications Partners and Providence Equity Partners.
The investment firms would buy the stock of shareholders whose desire to cash-out has...
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