August 24, 1989 |
To raise cash for a planned expansion, Freedom Newspapers Inc. in Irvine has agreed to sell two small Midwestern papers to a Nebraska publishing company. Terms of the deal were not announced. Freedom is the holding company for the Orange County Register and 28 smaller dailies. Only once before has the 64-year-old chain--considered one of the most profitable in the nation--sold a paper. In 1978, Freedom sold its Hornell, N.Y., daily, the Evening Tribune, to Seneca Newspaper Group.