Freedom closes partnership tender offers

IRVINE, Calif. — May 7, 2004 — Freedom Newspaper Acquisitions, Inc. (“FNAI”), an indirect and wholly owned subsidiary of Freedom Communications, Inc., announced today the expiration of its tender offers for any and all outstanding partnership interests in eight partnerships in Freedom Communications’ Community Newspapers Division: The Clovis-News Journal; Freedom Newspapers (Texas Valley); Gaston Gazette LLP; Lima News; Odessa American; Porterville Recorder Company; Seymour Tribune Company and Victorville Publishing Company. FNAI has accepted for payment all of the interests validly tendered and not withdrawn.

The tender offers expired at 6 p.m. Pacific Time on May 7, 2004. As of the expiration of the offers, the approximate percent (%) interests in the foregoing partnerships (based on 100% of partnership interests outstanding) tendered in the offers and not withdrawn are: 36.7%; 18.9%; 1.8%; 3.4%; 36.9%; 8.0%; 3.6% and 19.0%, respectively. Freedom Communications’ direct and indirect approximate percent (%) interests in the foregoing partnerships are: 100.0%; 99.9%; 99.7%; 100.0%; 100.0%; 98.2%; 99.6% and 96.5%, respectively.

Freedom Communications, Inc., headquartered in Irvine, Calif. is a privately owned diverse media company of newspapers, broadcast television stations and interactive media businesses. The company publishes 28 daily and 37 weekly newspapers, with a combined daily circulation of more than 1.2 million subscribers. The broadcast division includes eight stations including five CBS and three ABC network affiliates.