SOURCE: Network Communications, Inc.

Network Communications, Inc.

January 10, 2011 07:48 ET

Network Communications, Inc. Announces Closing of Exchange Offer for Its Senior Notes

LAWRENCEVILLE, GA--(Marketwire - January 10, 2011) - Network Communications, Inc., along with its subsidiaries and affiliates ("NCI" or the "Company"), announced that it closed on January 7, 2011, its previously announced exchange offer and consent solicitation (the "Offer"), whereby it has exchanged $174.8 million aggregate principal amount of its 10¾% Senior Notes due 2013 (CUSIP No. 64125B AC5) for $45.0 million aggregate principal amount of its outstanding 8.6% Senior Subordinated PIK Notes due 2020 (CUSIP No. 64125B AD3) and 100% of its issued and outstanding common stock, upon the terms and subject to the conditions set forth in the Offering Memorandum and Disclosure Statement, dated November 16, 2010 and the related letter of transmittal and consent, including any amendments or supplements thereto.

Kirkland & Ellis LLP acted as legal advisor to the Company. Houlihan Lokey Capital, Inc. acted as dealer manager and solicitation agent and Kurtzman Carson Consultants LLC acted as exchange agent and information agent for the Offer.

This press release is neither an offer to sell nor the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About NCI

Network Communications, Inc. is a leading local media company providing lead generation, advertising and Internet marketing services to the housing industry. The Company's leading brands are Apartment Finder, The Real Estate Book, DigitalSherpa, Unique Homes, New England Home and Atlanta Homes & Lifestyles. NCI has market representation in more than 500 local markets around the United States. The Company's strategy focuses on providing high-quality and measurable marketing solutions to local clients by leveraging its proprietary prospect-focused distribution and content management infrastructure. NCI distributes more than 9.4 million local print catalogs of apartments for rent and homes for sale every month through more than 300,000 distribution points; NCI's websites are leading Internet destinations for consumers looking for homes to rent or buy, with an average of 2.0 million unique users every month; and it provides Internet marketing services using social media tools to its customers.

Contact Information

  • Contacts
    Gerard Parker
    CFO
    NCI
    770-962-7220 ext 24234
    e-mail: gparker@nci.com

    Tami McCarthy
    TMG Public Relations
    212-300-6430
    e-mail: tami@tmgpr.com