SureWest Sells Directory Business

GateHouse Media Inc. is buying SureWest Communications’ directory publishing business for $110 million in cash.

GateHouse Media will acquire 100 percent of the stock of SureWest Directories, a wholly owned subsidiary of SureWest Communications. GateHouse Media, which is based in Fairport, N.Y., and owns more than 430 publications, will become publisher of the official directory of SureWest Telephone.

Roseville, Calif.’s SureWest Communications provides video, high-speed Internet, local and long-distance telephone, PCS wireless and directories services in northern California.

SureWest said the transaction will close by the end of the first quarter of 2007.

“We are very excited about the prospect of a long-term relationship with GateHouse Media,” said Steve Oldham, president and CEO of SureWest. “This transaction allows SureWest to continue to focus on our core business of being a full-service integrated communications provider.”

UBS Investment Bank acted as exclusive financial adviser to SureWest Communications, and Orrick, Herrington & Sutcliffe LLP served as special outside legal counsel.

GateHouse Media Inc. www.gatehousemedia.com  

SureWest Communications www.surewest.com

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