Star newspaper reports on $1bn windfall in shares to pay off debts

NEW YORK, NY–(Marketwired – Feb 07, 2017) – A Star newspaper reported Wednesday that its stock has received a $1 billion windfall from a sale of its newspaper business.

The New York Post reported that the sale is in addition to a $5.6 million purchase in January.

The paper has seen its market value plummet since the sale of The Star in October of last year, falling by as much as $200 million.

The sale of the newspaper, which was a joint venture of The Post and Star, is the second such sale in recent months.

The Star’s owner, the New York-based Tribune Company, also announced plans to sell The Star earlier this month.

The paper’s stock is up about 70% in 2017 from its December 2016 value, according to a company filing.

The Star is in the process of relocating to a new building and will be renamed The Star Times.

The newspaper has struggled financially since The Star sold its ownership in February 2016, posting a loss of nearly $3 million in 2016.

Star had previously said it was closing the paper and selling the newspaper business to Tribune in December.

The sale price is a fraction of the paper’s current market value, but it is likely to bring the paper closer to profitability.

It also will likely result in the paper getting some help from the federal government’s Troubled Asset Relief Program.

The TARP program is designed to help distressed newspaper companies.

When Nigerians flee Ebola, others are fleeing from fear

NIGERIA (Reuters) – Nigeria’s government on Tuesday urged citizens of affected West African nations to flee immediately as the world’s worst Ebola outbreak threatens to spiral out of control.

In an email sent to residents of the southern Niger Delta state, President Muhammadu Buhari said a lack of food and water, coupled with the death of a friend, meant the risk of further spread of the virus was “far too great”.

He said the risk was highest in Nigeria’s oil-rich northeast where many Nigerians live in overcrowded slums, where disease transmission from infected people has become a chronic problem.

“We call on all Nigerians to flee the cities and to the bush as soon as possible,” Buharis email said.

“Nigeria’s borders are now open, so we urge all Nigerian citizens to go there to escape the virus.”

The email came hours after a doctor was flown from Sierra Leone to a hospital in Lagos, where he was being treated for suspected Ebola infection.

Buhari also warned against any travel from affected nations.

He said there were a few people in West Africa with symptoms of the disease, but there was not enough information to identify them.

Nigerians are also struggling to cope with the spread of Ebola.

Bethany Muntari, whose husband died from Ebola, told Reuters that her husband was among the last people to leave her home in the delta town of Kato in the east of the country.

Muntari said she was surprised to hear from her husband’s family that they were being treated in a hospital and would not be allowed to leave Nigeria.

“I was surprised, because I was expecting him to come home and find me,” she said.

The number of deaths from Ebola in West African countries has surged to over 100.

The disease is believed to be transmitted through direct contact with an infected person.

The United States and other nations have sent troops and aircraft to Africa to support African nations fighting to contain the virus.

More than 1,300 people have died of Ebola in Africa, with at least 2,000 cases and more than 1.3 million people infected.