| Journal Register Company | |||
| Ticker: | JRC | State Street Square 50 West State Street | |
| Exchange: | New York Stock Exchange | Trenton, NJ 08608 | |
| Industry: | Manufacturing (SIC Code 2711) | (609) 396-2200 | |
| Type of Shares: | Common Shares | Filing Date: | 3/17/97 | |
| U.S. Shares: | 7,500,000 | Offer Date: | 5/7/97 | |
| Non-U.S. Shares: | 1,875,000 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 9,375,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.88 | |
| Offering Amount: | $150,000,000 | Selling: | $0.52 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 761-5900 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Chase Securities, Inc. | Co-manager | (212) 834-4533 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Issuer's Law Firm: | Wachtell, Lipton, Rosen & Katz |
| Bank's Law Firm: | Willkie Farr & Gallagher |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | |||||
| Revenue: | $336.75 | Assets: | |||
| Net Income: | $28.11 | Curr Assets: | |||
| EPS: | Liabilities: | ||||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $60.06 | Equity: | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading U.S. newspaper publisher, with total paid daily circulation of approximately 556,000 and total non-daily distribution of approximately 2.7 million. The company owns and operates 18 daily newspapers and 118 non-daily publications strategically clustered in five geographic areas: Connecticut; Ohio; Philadelphia and its surrounding areas; the greater St. Louis area; and central New England. The company's newspapers are characterized by an intense focus on coverage of local news and sports and offer compelling graphic design in colorful, reader-friendly packages. Since 1993, the company has successfully completed seven strategic acquisitions, acquiring six daily newspapers, 52 non-daily publications and one commercial printing company. The company has generally increased the revenues and significantly increased the cash flow and profitability of its acquired newspapers. The majority of the company's daily newspapers have been published for more than 100 years and are established franchises with strong identities in the communities they serve. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of outstanding indebtedness owed to Warburg, Pincus. |