Freedom Communications Inc., the parent company of The Orange County Register, has been acquired by 2100 Trust LLC, a privately owned investment group led by investor Aaron Kushner, who failed to purchase the Boston Globe.
Terms of the deal were not disclosed and it’s expected to close in about 30 days.
“We couldn’t be more pleased with the opportunity to lead the hard-working and talented employees of Freedom Communications in serving these communities,” said Kushner, 2100 Trust’s chief executive officer in a statement released by the company. “We believe that newspapers are essential to the fabric of our lives and are excited to own and grow these unique institutions.”
LA Observed dug up a 2011 profile on Kushner, the relatively unknown new owner of seven newspapers across California, Arizona and Colorado.
Risky move to say the least. Let’s see what comes out of it once the deal is complete.