Lee Enterprises' (LEE) TownNews.com unit bought ZWire, AdQuest and a national advertising network from PowerOne Media. The company said that the acquisition, expected to close March 1, will bring the total number of newspapers served by TownNews.com to about 1,500.
Lee Enterprises, which holds an 83% stake in TownNews.com, is the fourth largest newspaper group in the U.S. Lee is also one of the owners of PowerOne Media.
"ZWire and AdQuest are proud and historic brands, and we are pleased to be associated with them. The national advertising network will help us sell and deliver advertising to newspaper companies throughout the nation," said the company.
On Thursday, Lee was flat at $35.15.
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