Private equity firm buys 4 newspapers in Midwest

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LIMA, Ohio (AP) -- An affiliate of a Philadelphia-based private equity firm is buying four newspapers in the Midwest, including one in northwest Ohio.

Freedom Communications is selling the newspapers to an affiliate of Versa Capital Management LLC.

Irvine, Calif.-based Freedom announced the sale Thursday.

The papers in the sale are The Lima News in Ohio; The Telegraph in Alton, Ill.; The Journal-Courier in Jacksonville, Ill.; and The Sedalia Democrat in Missouri.

Terms of the deal were not released.

Versa Capital Management also owns newspaper chain Ohio Community Media. That group includes 14 daily newspapers and 30 weekly papers in northern and western Ohio.

Freedom operates 100 publications, including 24 daily newspapers.