NEW YORK (Reuters) - MediaNews Group Inc has delayed a deal to buy Freedom Communications Inc’s newspapers due to trouble with financing, the Wall Street Journal reported on Sunday on its website.
Inhospitable debt markets led MediaNews, publisher of the Denver Post and other newspapers, to postpone attempts to get financing for the deal, the Journal reported, citing people familiar with the matter.
MediaNews has been in talks for several months with Freedom about buying the Orange County Register and more than 100 other newspapers for around $350 million, the paper said. Discussions between the two companies broke down earlier this year over price, the paper said, but renewed talks during the summer.
They could revisit a deal in coming weeks, the Journal said, depending on market conditions.
The companies could not immediately be reached for a comment.
Reporting by Martinne Geller, editing by Maureen Bavdek