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BOSTON, May 6, 2006 (UPI via COMTEX) -- Patrick Purcell, owner of the Boston Herald and 270 suburban New England newspapers, plans to sell off everything but the Herald to an Illinois firm.
The Boston Globe reports Purcell is to sell the Community Newspaper Co. subsidiary to Northbrook, Ill.-based Liberty Group Publishing Inc. for an estimated $225 million.
Purcell said he will keep the Herald and has worked out a deal for sharing advertising and content, adding "we're going to continue to build the Herald. It's my first love."
The Herald newsroom has seen cuts recently, as it chases the Boston Globe in the cross-town rivalry for advertising and circulation.
The Globe sells about 414,000 papers compared with the Herald's 230,000.
Purcell bought the Herald from Rupert Murdoch-owned News Corp. in 1994 and the Community Newspaper Co. papers in 2001.
URL: www.upi.com Copyright 2006 by United Press International
