GateHouse Media to Buy The Boston Herald for $4.5 Million in Cash

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On Friday, Boston Herald publisher Patrick J. Purcell told staff that GateHouse Media LLC would acquire The Herald and its assets for $4.5 million in cash, subject to court approval. To maximize the company’s value, Boston Herald Inc. (BHI) filed a voluntary Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the District of Delaware to maximize the company’s value.

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