The Thomson Corporation to Sell the Connecticut Post to MediaNews Group, Inc.; Last of 49 Thomson US Newspapers Sold; US2.44 Billion Raised

The Thomson Corporation to Sell the Connecticut Post to MediaNews Group, Inc.; Last of 49 Thomson US Newspapers Sold; US2.44 Billion Raised

Business Editors

TORONTO, Ontario–(BUSINESS WIRE)–July 12, 2000

The Thomson Corporation (TSE:TOC) announced today that it has reached a definitive agreement to sell its newspaper operations in Connecticut to MediaNews Group, Inc. for an undisclosed amount.

Under the agreement, MediaNews will acquire Thomson’s Southern Connecticut Strategic Marketing Group based in Fairfield County, which includes the 80,000-circulation daily Connecticut Post, and five non-daily newspapers.

With this transaction, Thomson has announced the sale of all of its US newspaper operations, consisting of 49 dailies and their ancillary operations, for total proceeds of US$2.44 billion.

Richard J. Harrington, President and Chief Executive Officer of The Thomson Corporation, said, “With Thomson’s operational headquarters based in Connecticut, this newspaper group is close to our hearts. I’d like to thank the people at the SMG for their outstanding contributions to Thomson. I am very pleased that they will be going to another fine newspaper company.”

Harrington continued, “We are extremely satisfied with the successful sale of our US newspaper assets and will now more sharply focus on the sale of our Canadian newspaper assets, excluding The Globe and Mail.”

In February, Thomson announced it would sell all of its newspaper operations, excluding The Globe and Mail, Canada’s national newspaper. The sale – involving 54 newspapers in the U.S. and Canada – is one of the biggest of its kind in North American history. The move was part of Thomson’s strategy to focus on its global, technology-driven business and professional information operations.

During the last several weeks, the company announced the sale of 48 other daily newspapers – 21 to Gannett Co., Inc., 17 to Community Newspaper Holdings, Inc., five to Media General, Inc., three to Freedom Communications Inc., and one each to The Copley Press, Inc. and Cooke Communications LLC.

The US newspaper deals are expected to close during the third quarter. The sale of Thomson’s five Canadian properties is anticipated to be completed late this year or early next year.

Stuart Garner, President and CEO of Thomson Newspapers, said of the latest sale, “The Connecticut Post and its sister publications are, in a very real sense, our own local papers. They have served us well both as excellent providers of local news and as first-class local businesses. The management and staff have our grateful thanks for their past endeavors and our best wishes for their future success. I am sure they will continue to thrive under MediaNews.”

The proceeds generated from the sale of Thomson Newspapers will be used initially to reduce debt and to provide additional borrowing capacity to meet Thomson’s investment needs as it continues to grow its e-information and solutions businesses through organic development and acquisitions. Consistent with this strategy, Thomson recently announced an agreement to acquire Primark, a leading financial information provider, and the successful completion of the acquisitions of Prometric, Wave Technologies and Dialog’s online business.

The Thomson Corporation (, with 1999 revenues of US$5.8 billion, is a leading, global e-information and solutions company in the business and professional marketplace. The Corporation’s common shares are listed on the Toronto and London Stock Exchanges.

This news release includes forward-looking statements, which are based on the Corporation’s current expectations and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to materially differ from those anticipated. Such risks and uncertainties include, among others, general business and economic conditions and competitive actions.

Note: A complete list of the newspapers being acquired by the MediaNews Group, along with Thomson’s other newspapers being sold, is attached.


Strategic Marketing Groups and Daily Newspapers

Non-daily Newspapers in Italics

MediaNews Group, Inc. Southern Connecticut SMG

– Connecticut Post (Fairfield County)

– Darien News Review

– Fairfield Citizen News

– Inside Fairfield County

– Norwalk Citizen News

– Westport News

Freedom Communications Inc. Phoenix SMG

– The Tribune (Mesa)

– Daily News-Sun (Sun City)

– Prospector (Glendale,Peoria)

– Surprise Today

– Ahwatukee Foothills

Yuma, Arizona

– The Yuma Daily Sun

– Bajo El Sol (Yuma)

– Cactus Comet (Yuma)

Cooke Communications LLC

The Florida Keys SMG

– The Citizen (Key West)

– Big Pine Free Press

– Islamorada Free Press

– Key Largo Free Press

– Marathon Free Press

– Reef Press (Ocean Reef)

– Solares Hill (Key West)

The Copley Press, Inc Canton, Ohio

– The Repository (Canton)

– The Suburbanite (Summit County)

Media General, Inc. Alabama SMG

– The Dothan Eagle

– Enterprise Ledger

– Opelika-Auburn News

– Jackson County Floridan (Marianna, Florida)

– The Auburn Bulletin

– The Dothan Progress

– The Ashford Power

– The Headland Observer

Thomson Carolina

– Morning News (Florence, South Carolina)

– News & Post (Lake City, South Carolina)

– Weekly Observer (Hemingway, South Carolina)

– Marion Mullins (Marion and Mullins, South Carolina)

Gannett Co., Inc. Winnebago SMG (Wisconsin)

– Oshkosh Northwestern

– The Post-Crescent (Appleton)

– The Reporter (Fond du Lac)

– Herald Times Reporter (Manitowoc)

– The Sheboygan Press

– Shoreline Chronicle (Sheboygan)

– The Bargain Bulletin (Appleton)

– Lakeshore Chronicle (Manitowoc)

– Menasha Register

– Neenah Citizen

Central Wisconsin SMG

– Marshfield News-Herald

– Stevens Point Journal

– Daily Tribune (Wisconsin Rapids)

– Central Wisconsin Sunday

Thomson Central Ohio

– Telegraph-Forum (Bucyrus)

– Chillicothe Gazette

– Coshocton Tribune

– Lancaster Eagle-Gazette

– News Journal (Mansfield)

– The Marion Star

– The Advocate (Newark)

– Times Recorder (Zanesville)

– Granville Booster

– Granville Sentinel

– Pataskala Standard

– The Muskingum Valley Merchandiser

Thomson Southwest Ohio

– Journal-News (Hamilton)

– The Middletown Journal

– Pulse Journal (Mason/West Chester)

– Oxford Press

– Fairfield Echo

– The Western Star (Lebanon)

– Star Press (Springboro)

– Today’s Express (Morrow)

– Monroe Times

– The Miamisburg News-West Carrollton News

– The Germantown Press

Thomson South Louisiana

– The Daily Advertiser (Lafayette)

– The Times of Acadiana

St. George, Utah

– The Spectrum

– Desert Valley Times (Mesquite)

Thomson Chesapeake

– The Daily Times (Salisbury, Maryland)

– Delaware Wave (Bethany, Delaware)

– Chincoteague Beacon

– Virginia Beachcomber (Chincoteague, Virginia)

– Somerset Herald (Princess Anne, Maryland)

– Worcester County Messenger (Ocean City, Maryland)

– Ocean Pines Independent

– Maryland Times-Press (Ocean City and Berlin, Maryland)

– Maryland Beachcomber (Ocean City)

– Delaware Coast Press (Rehoboth, Delaware)

– Delaware Beachcomber (Rehoboth, Delaware)

– Eastern Shore News (Tasley, Virginia)

Community Newspaper Holdings, Inc. Thomson Indiana

– The Herald Bulletin (Anderson)

– Greensburg Daily News

– Kokomo Tribune

– The Lebanon Reporter

– Linton Daily Citizen

– Pharos-Tribune (Logansport)

– Rushville Republican

– Tribune Star (Terre Haute)

Batesville Herald-Tribune

Employment Weekly (Central Indiana) The Highflyer (Hamilton County)

Hamilton County Image

Hendricks County Flyer

Zionsville Times Sentinel

Thomson South Georgia

– Americus Times-Recorder

– Cordele Dispatch

– The Observer (Moultrie)

– Thomasville Times-Enterprise

– The Tifton Gazette

– The Valdosta Daily Times

– Coffee County News (Douglas)

– Suwannee Democrat (Live Oak, Florida)

– The Branford News (Florida)

– The Jasper News (Florida)

– The Mayo Free Press (Florida)

– Excalibur (Valdosta)

Thomson West Virginia/Virginia

– The Register-Herald (Beckley, West Virginia)

– Bluefield Daily Telegraph (West Virginia)

– The Fayette Tribune (Oak Hill, West Virginia)

– Montgomery Herald (West Virginia)

– Princeton Times (West Virginia)

Cumberland, Maryland

– Cumberland Times-News

– Garrett County Weekender (Oakland)

– Potomac Highlands (Keyser, West Virginia)

– Frostburg Express

Thomson Newspapers

Unsold Properties

Central Canada SMG

– Brandon Sun (Manitoba)

– Winnipeg Free Press (Manitoba)

– The Chronicle-Journal (Thunder Bay, Ontario)

– Kenora Enterprise (Ontario) Southern Alberta SMG

– Lethbridge Herald

– Medicine Hat News

– The Commentator (Bow Island)

– Coaldale News

– Prairie Post (Swift Current, Saskatchewan, and Medicine Hat)

– Southern Sun Times (Lethbridge)

– Taber Times

– Vauxhall Advance

Canada’s National Newspaper – NOT FOR SALE

– The Globe and Mail (Toronto, Ontario)

COPYRIGHT 2000 Business Wire

COPYRIGHT 2000 Gale Group