Sale to John Georges is expected to close by June 1
The Advocate newspaper in Baton Rouge reports that its publisher has signed a letter of intent to sell the paper to New Orleans businessman John Georges.
The deal is expected to close by June 1. Terms were not disclosed.
The Advocate's average weekday circulation is about 98,000 and Sunday circulation is about 125,000 - boosted by its recent entry into the New Orleans market.
David Manship is publisher of The Advocate and chief operating officer of Capital City Press, which owns it. He and Richard Manship, president and chief executive officer of Capital City Press, announced the agreement in a news release but would not comment further.
David Manship said the sale will be a stock sale with no planned interruption in business.
Georges declined to comment, citing a confidentiality agreement.
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