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Freedom Arizona to wind down East Valley Tribune

Press release from the issuing company

Mesa, AZ – Freedom Arizona today announced it plans to wind down the East Valley Tribune newspaper and its associated websites. It is moving forward to cease publication of the East Valley Tribune by December 31, 2009. Freedom Arizona's properties in Sun City, Chandler and Ahwatukee will continue to publish as usual.

The Company said that it had been working with a broker to seek a new partner who might be better positioned to guide these Phoenix-area properties in the future.

"Unfortunately, we have yet to identify a suitable partner to purchase the East Valley Tribune. As a result, we have made the difficult but necessary decision to wind down these operations," said Freedom CEO Burl Osborne.

Throughout this transition, Freedom Arizona will publish its print and online products as usual, continuing to support its customers, advertisers and its community. Employees and suppliers will be paid for the work they perform and goods they provide during this transition period.

Mr. Osborne went on to say that, for the past year, Freedom Arizona has taken a number of steps to make the East Valley Tribune a stronger and more competitive paper in its market, however the economic and industry pressures have not provided the backdrop we needed to optimize its success.

"Because of its impact on our employees and the communities we serve, this is probably the most difficult decision a company can make. But ultimately, after considering all available options, this is the best alternative for our company financially given the continued recession and many challenges facing our industry," Mr. Osborne concluded.

The East Valley Tribune publishes four local editions serving the Mesa, Queen Creek, Gilbert and Chandler, Arizona communities three days a week.