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Money matters.

On a Saturday, it was reported in the Arkansas Democrat-Gazette that Walter E. Hussman Jr. had purchased the assets of the Arkansas Gazette for $68 million.

On a Sunday, it was reported that Hussman borrowed $69.3 million to buy the Gazette's assets.

Why did Hussman need the extra $1.3 million?

His attorney, Philip S. Anderson of Little Rock, explains.

The purchase price was $68 million. But that was before adjustments were made for the Gazette's cash accounts and the newsprint on hand.

The loan amount was a little more than $69.3 million.

How much more?

"More than $69.3 million and less than $69.4 million," Anderson says.
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Title Annotation:Walter E. Hussman Jr. pays an extra $1.3 million for the Arkansas Gazette
Publication:Arkansas Business
Date:Oct 28, 1991
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