Grove Sun (OK) Newspaper Co. LLC sold to American Consolidated Media
June 5, 2007 -– For Immediate Release

Dallas – American Consolidated Media LLC (“ACM”) of Dallas, Texas, through its wholly-owned subsidiary Miami Newspapers, Inc., announced today that it has purchased the publishing assets of The Grove Sun Newspaper Company LLC (“Grove”) from The Peter M. Crow Revocable Living Trust. The purchase price for the transaction was not disclosed..

Grove publishes The Grove Sun Daily, a daily newspaper serving the community of Grove, Oklahoma and the surrounding Grand Lake area in northeast Oklahoma; The Delaware County Journal, a weekly newspaper serving the community of Jay, Oklahoma, the county seat for Delaware County, and surrounding communities in southern Delaware County; The South Grand Laker, a weekly newspaper serving the community of Langley in Mayes County, Oklahoma and surrounding communities near Grand Lake; The Miami Sun, a weekly newspaper serving Miami, Oklahoma; and, Grand Lake Magazine, a quarterly publication serving the Grand Lake area.

The Grove Sun Daily was first published in 1898 and it is the second oldest newspaper in the State of Oklahoma. The Delaware County Journal was first published in 1922.

The seller, Peter M. Crow, was represented by JP Media Partners, a Gold River, CA-based merger-and-acquisition intermediary for the newspaper industry.

In conjunction with this transaction, ACM is pleased to announce the appointment of Michael G. (“Mike”) Thornberry as Regional Vice President and Publisher of The Grove Sun Daily.

Thornberry served from June 2003 through May 2007 as Publisher and General Manager at the Lone Star News Group, a division of Community Newspaper Holdings, Inc., with responsibility for three daily newspapers, four shopper publications and three specialty publications located in northeast Texas. The three daily newspapers serve the communities of Cleburne (TX), Weatherford (TX) and Mineral Wells (TX).

Prior to that position, Thornberry served as Publisher at the Duncan Banner in Duncan, Oklahoma from April 2000 to June 2003 and as Publisher at the Coffeyville Journal in Coffeyville, Kansas from February 1991 to April 2000.

“American Consolidated Media is deeply flattered to have this opportunity to purchase The Grove Sun Daily, The Delaware County Journal and the other Grove publications,” Jeremy L. Halbreich, Chairman of the Board, President & CEO of ACM, said

“Pete Crow has owned and operated The Grove Sun Daily for the past forty years and, in combination with his subsequent acquisition of The Delaware County Journal, he has provided a consistently high quality level of service and value to the readers and advertisers in Grove, Jay and the communities throughout Delaware County and the Grand Lakes region,” Halbreich said

“These publications and the service they provide the communities of Delaware County represent a great testimony to the hard work, dedication to this region of Oklahoma and true community service of Pete Crow, Carol Anne Crow, who has served as Co-Publisher since 1998, and the talented staffs of dedicated employees,” he added.

“It has been a personal and professional pleasure to become better acquainted and work closely with Pete and Carol Anne,” Halbreich said. “We are gratified by his confidence in us and in our organization as publishers of local, community newspapers to carry on his focus and tradition of community service to the area he has loved and supported,” Halbreich concluded.

ACM is a wholly-owned subsidiary of Macquarie Media Group (“MMG”), a publicly-traded investment vehicle listed on the Australian Stock Exchange. MMG is based in Sydney, Australia and holds a portfolio of media businesses globally including 100% interest in Macquarie Regional Radioworks, owner and operator of 87 rural and regional radio stations located throughout Australia; 60% interest in Taiwan Broadband Communications, one of three leading cable television broadcasters in Taiwan; and, 13.8% interest in Southern Cross Broadcasting, a publicly-traded company with holdings in radio and television broadcasting located in the larger cities of Australia.

ACM owns and operates five daily newspapers in Alice, Brownwood, Stephenville and Waxahachie, Texas and in Miami, Oklahoma; thirty-two weekly publications in McAllen, Brownsville, Harlingen, San Benito-Los Fresnos, Laredo, Edinburg, Rio Grande City, Bonham, Fannin County, Midlothian, Ennis, Red Oak, Italy, Alvarado, Ellis County, Erath County, Brown County, Ballinger, Winters, Hearne, Franklin, Calvert, Robertson County, Orange Grove, Premont, Jim Wells County, Kingsville, Freer, Robstown and Nueces County, Texas and Ottawa County and Picher, Oklahoma; and, five specialty publications in Texas.

For more information, contact Jeffrey Potts of JP Media Partners at 916-526-2693.