American Community Newspapers Sold

Courtside Acquisition Corp. (AMEX: CRB) has agreed to acquire American Community Newspapers LLC from Spire Capital Partners, Wachovia Capital Partners and members of CAN's senior management. The deal is valued at $165 million, plus up to $25 million in possible earnouts. ACN is a group of 73 publications, comprised of 60 weekly suburban newspapers, three daily newspapers and 10 niche publications, and operates in Minneapolis/St Paul, Dallas/Ft. Worth and suburban Washington DC.