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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Hearst buys stake in rival publisher

The Hearst Corporation has paid $317m (£155m) for a stake in rival newspaper publisher, MediaNews Group. The complicated deal, first announced last year and completed last Friday, involves the ownership of several papers previously owned by McClatchy in the San Francisco Bay Area. Hearst owns the San Francisco Chronicle while MediaNews owns surrounding daily papers, such as the San Jose Mercury News. (Via Reuters)

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