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January 4, 2008

Buyers of Times Record seek bond

The new owners of the Brunswick Times Record newspaper are seeking a multi-million dollar revenue bond to purchase the paper's facility and equipment.

Sample News Group, which announced that it was buying the daily newspaper last month, has asked the Finance Authority of Maine for a $7 million revenue bond, the Kennebec Journal reported.

Representatives from Sample News Group testified at a public hearing this morning held by the finance authority, FAME spokesman William Norbert told Mainebiz. FAME also heard from parties opposing the bond, though Norbert did not specify who they were. Further submissions from anyone on the bond application will be received for one week, Norbert said.

The requested bond would replace a previous $5 million bond FAME issued in 2005 to the former owner of The Times Record to help finance construction of a new facility, which Sample News Group will pay off, according to the paper.

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