In a new story, trade publication Editor & Publisher quotes a British media report that Gannett's Newsquest subsidiary sold its former Bolton, England, production plant to M&A Pharmachem, for just over $3 million -- apparently, at a big loss.
The 9-year-old, 40,000-square-foot printing and distribution facility was built and equipped for almost $26 million, according to TheNewsDesk.com, which reported that Newsquest decided to close it last year.
Gannett bought Newsquest in 1999 for about $1.5 billion, plus assumption of debt. The U.K. division publishes 17 dailies and hundreds of other titles.
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Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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