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Herald Media Holdings, Inc. (“Herald Media”) based in Boston, Massachusetts, currently owns and publishes The Boston Herald. Herald Media is headed by Patrick Purcell, who has been the publisher of the newspaper since 1984 and owner since 1994 when he acquired the company from News Corporation Ltd. The Boston Herald is one of the leading major metropolitan daily newspapers in the U.S. and is the second largest newspaper in New England behind the Boston Globe. The Boston Herald is known for its quality political, community, business and sports coverage and represents an important editorial voice in New England. Through a leveraged recapitalization in August 2004, Halyard received a significant portion of its invested capital. On June 6, 2006, the Company sold the assets of Community News Corp. ("CNC") to Gatehouse (Fortress Investment Group) for $230 million. CNC, based in Needham, MA, owned and published four suburban daily newspapers and over 100 weekly community newspapers, shoppers and specialty publications in eastern Massachusetts at the time of sale. Halyard still maintains a minority equity position in Herald Media.
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