Great Southern Hires Advisors For Sale Of Subsidiaries

New York, NY

New York, NY – The Great Southern Printing and Manufacturing Company, which publishes The Frederick News-Post, daily newspapers, and operates cable telecommunications and internet facilities through its subsidiary, GS Communications, Inc., is exploring strategic alternatives for the future capital structure, organization and ownership of the Company.

In a memorandum to Company staff members, George B. Delaplaine, Jr., president and CEO, announced that the Company is involved in confidential discussions with advisors on strategic alternatives, but would continue to focus on its commitment to its staff members and the community. In so doing, the Company has engaged the services of Waller Capital Corporation, an investment firm specializing in telecommunications, based in New York, and Dirks, Van Essen and Murray, a newspaper merger and acquisition firm based in Santa Fe, NM.

In the meantime, Mr. Delaplaine noted that the Company will continue to operate as it has in the past. Every effort will be devoted to continuing to provide the best possible newspaper, commercial printing, cable and Internet services available. “We are unable to say whether any change or transaction will occur, but management’s commitment to high-quality service to readers, subscribers and advertisers will continue. No material changes in the Company’s operations or staff base are expected,” Mr. Delaplaine said.

For more information contact:
Garrett M. Baker
Vice President
Waller Capital Corporation
(212) 632-3600