Journal Register Company Acquires Roe Jan Independent Publishing; Acquisition Includes Two New York Non-Daily Publications.
TRENTON, N.J.--(BUSINESS WIRE)--Aug. 1, 2001
Journal Register Company (NYSE NYSE
See: New York Stock Exchange :JRC JRC
Junior Red Cross ) Chairman, President and Chief Executive Officer Robert M. Jelenic announced today the Company's acquisition of Roe Jan Independent Publishing, Inc., which is based in Hillsdale, New York Hillsdale is a town in Columbia County, New York, United States. The population was 1,744 at the 2000 census.
The Town of Hillsdale is at the east border of Columbia County. History
The region was taken from the Town of Claverack in 1782. , and includes two non-daily publications. The acquisition includes The Independent, a twice-weekly 9,600-circulation newspaper that serves Columbia and southern Rensselaer counties, and The Paper, a 16,000-circulation free 17-times per year arts and entertainment tabloid that serves Columbia, Dutchess, Berkshire (MA) and Litchfield (CT) counties.
Roe Jan Independent Publishing, Inc. is a privately held company privately held company
A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . The terms of the transaction were not disclosed.
"I am extremely pleased to announce that these publications and their talented staffs have joined Journal Register Company," said Jelenic. "These publications are an excellent fit with our Daily Freeman The Daily Freeman is a seven-day-a-week morning newspaper in Kingston, New York, the Ulster County seat. Serving all of Ulster County and parts of three other counties in the Mid-Hudson Valley, the broadsheet publication has a weekday circulation of approximately 22,000. in Kingston and our Millbrook-based weekly group, Taconic Press, both part of our Mid-Hudson Region of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of cluster.
"The Roe Jan publications also complement our Troy, New York Troy is a city in New York, U.S., and the county seat of Rensselaer County. As of the 2000 census, the population was 49,170; in 1910, the population was 76,813. The city's motto is Ilium fuit, Troja est, which means "Troy was, Troy is. , daily newspaper, The Record, which is part of our Capital-Saratoga cluster and is located north of Hillsdale, and our newspapers in Litchfield County, Connecticut Litchfield County is located in the northwestern corner of the U.S. state of Connecticut. As of 2004 the population was 189,246. This was an increase of 3.87% from the 2000 census. It is part of the New York Metropolitan Area. ."
"This transaction is expected to be marginally accretive on a net income basis in fiscal year 2002," said Journal Register Company Executive Vice President and Chief Financial Officer Jean B. Clifton. Roe Jan Independent Publishing reported total revenues of approximately $2 million for the fiscal year 2000.
"The Independent and The Paper, under the direction of Tony Jones and his wife, Vicki Simons, have been well managed and have served the best interests of their communities. We look forward to carrying on that tradition as we continue to grow these operations," added Clifton.
"We are confident that Journal Register Company will enlarge the successes of our publications, as well as provide our employees additional opportunities for professional growth," said Roe Jan Independent Publishing Owner and Publisher Tony Jones. "We will now be cheering from the sidelines as this talented staff continues its good work."
Journal Register Company's Mid-Hudson Region of New York cluster consists of one daily newspaper, the Daily Freeman in Kingston with paid daily circulation of approximately 22,000 and Sunday circulation of approximately 29,000, and 14 non-daily publications with total distribution of approximately 280,000, 11 of which are published by Taconic Press, the Company's weekly group based in Millbrook.
Journal Register Company is a leading U.S. newspaper publishing company that owns 22 daily newspapers, including the New Haven Register The New Haven Register is a daily newspaper published in New Haven, Connecticut. It is the second largest newspaper in Connecticut, behind The Hartford Courant. It is owned by the Journal Register Company in Yardley, Pennsylvania. , Connecticut's second largest daily and Sunday newspaper, and 197 non-daily publications. Journal Register Company currently operates 132 individual Web sites featuring the Company's daily newspapers and non-daily publications, which can be accessed at journalregister.com. All of the Company's operations are strategically clustered in six geographic areas: Greater Philadelphia, Connecticut, Greater Cleveland, Central New England, and the Capital-Saratoga and Mid-Hudson regions of New York. The Company currently has equity investments in AdOne, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , a premier Internet-based classified advertising service, and PowerAdz.com, LLC, a leading Internet infrastructure provider for the newspaper industry.
This news release contains forward-looking statements that involve a number of risks and uncertainties, which could cause actual results to differ materially. These include, but are not limited to, the success of the Company's acquisition strategy, competitive pressures and general or regional economic conditions. Additional risk factors are outlined in the Company's most recent Annual Report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.