News that media observers had long expected finally came this morning. A.H. Belo has sold the Press-Enterprise, in Riverside, California, to a sorta competitor. Freedom Communications Holdings, which owns the Orange County Register, has agreed to pay $27.25 million, a sum that gets Freedom a production facility and related land. Back in July, Belo sold the Press-Enterprise’s building to Riverside County for about $30 million.
Dallasites should rejoice. Moroney and the family continue their retrenchment strategy, pulling back their armies from Irkutsk to shore up the homeland (to those of you who don’t play Risk, I apologize for the allusion that right now has you confused). All that’s left now is to decamp from Yakutsk. In other words, sell the Providence Journal, in Rhode Island. As the company sheds these other papers, the future of the Morning News and its operations in Dallas only looks brighter. There’s no substitute for cash. Well, except credit. And a few hundred armies amassed in Brazil and Venezuela. (I know some people prefer to start their assaults from Indonesia. Those people are wrong.)