Estimated read time: 1-2 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WASHINGTON (AFX) - GateHouse Media Inc. registered Friday for an initial public offering of up to $200 million in common stock, according to a filing with the Securities and Exchange Commission.
Fairport, N.Y.-based GateHouse Media, formerly known as Liberty Group Publishing Inc., publishes local newspapers and "shoppers" advertising publications.
Fortress Investment Group LLC currently owns 96 percent of the company's stock.
The company didn't disclose how many shares will be offered, nor did it provide an estimated price range in Friday's filing.
The company said it plans to list its common stock on the New York Stock Exchange.
The company said it will use the net proceeds from the offering to repay in full a $152 million loan that financed its recent acquisition of CP Media Inc. and Enterprise NewsMedia LLC, the two largest community newspaper companies in Massachusetts.
The company said the remaining proceeds will be used for general corporate purposes.
Goldman Sachs & Co. and Wachovia Securities are listed as the underwriters for the offering.
The $200 million valuation for the IPO was estimated solely for calculating the registration fee, the filing said. Often, the eventual price terms of an IPO differ substantially from the valuation in the first registration. Copyright 2006 Associated Press. All rights reserved. This material may not be
Copyright 2006 AFX News Limited. All Rights Reserved.
