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Gannett Foundation Sells Ohio Newspaper

Tuesday, June 05, 2001

Press release from the issuing company

ARLINGTON, VA The Gannett Foundation has sold The Marietta (Ohio) Times to Ogden Newspapers Inc. of Wheeling, W.Va., it was announced today. Terms of the sale were not disclosed. Proceeds from the transaction will be used to fund the Foundation and its grants to communities throughout the country. The Marietta Times recently was donated to the Foundation by Gannett Co., Inc. "The Marietta Times was founded in 1864 and joined Gannett in 1974. We are pleased such a venerable community newspaper has found a new home and are sure it will be a good fit with Ogden's other publications," said Douglas H. McCorkindale, chairman of the Gannett Foundation and chairman, president and CEO of Gannett Co., Inc. Robert Nutting, chief executive officer of Ogden Newspapers said: "Our family is extremely pleased to have the opportunity to publish The Marietta Times. The Times is an excellent newspaper with a long history of service to a strong and solid community. This acquisition demonstrates our continuing commitment to, and faith in, the business of publishing community newspapers." Ogden Newspapers, Inc. is a fourth-generation newspaper company founded by H.C. Ogden in 1890 in Wheeling, W.Va., and is owned by his descendants, the Nutting family. After this acquisition, the family will publish 38 daily newspapers in 11 states, mainly in the Midwest and Eastern United States. With the addition of The Times, the company now has seven dailies in Ohio. The Gannett Foundation, a Gannett Co., Inc. sponsored foundation, makes grants to non-profit organizations in communities where Gannett has operations. In 2000, the Foundation's grants and employee matching gifts totaled approximately $8.8 million.




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