Thompson to sell Newspapers

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Thompson Newspapers, Toronto, said yesterday it is selling almost all of its newspaper holdings, including 400 specialty products like newspaper inserts and shoppers.

The publisher, which had revenues in the $6 billion range, will focus its attention on information services business. The newspapers being sold include 50 daily U.S. papers, five dailies in Canada and 75 nondaily newspapers. Thompson will retain ownership of the Globe and Mail in Toronto, the company's flagship newspaper. Goldman Sachs has been hired to advise Thompson on the pending sale.

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