Pennsylvanian newspaper operator Impressions Media purchased by Philadelphia-based investment firm Versa Capital Management; deal includes The Times Leader publication, several community papers, websites, digital media business

Kendall Sinclair

WILKES-BARRE, Pennsylvania , March 5, 2012 (Associated Press) – The owner of The Times Leader in Wilkes-Barre says it has been acquired by a Philadelphia-based investment firm.

Impressions Media said Monday it was purchased by Versa Capital Management LLC. Terms were not disclosed.

Impressions operates The Times Leader as well as several community papers, websites and digital media businesses in northeastern Pennsylvania.

Veteran Times Leader executive Prashant Shitut was named president and CEO of the media company.

The Times Leader reported http://bit.ly/zW0lUb the sale on its website.

Former publisher Richard Connor started The Wilkes-Barre Publishing Co. in 2006 and led an investor group that bought the newspaper from The McClatchy Co. The company changed its name to Impressions Media last summer.

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