On Air Now

Listen

Listen Live Now » 94.7 FM Central Wisconsin 102.9 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
70° Feels Like: 70°
Wind: ESE 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Cloudy 79°

Tonight

Mostly Cloudy 65°

Tomorrow

AM Clouds/PM Sun 85°

NewPage bought out by Verso Paper

by
NewPage paper mill in Kimberly (courtesy of FOX 11)
NewPage paper mill in Kimberly (courtesy of FOX 11)

UNDATED (WSAU) -- NewPage Holdings has a new owner.

Tennessee based Verso Paper is buying out the company in a deal worth $1.4 billion dollars. That will also include buying debt that NewPage holds.

The deal was announced today by both company boards. THey're hoping to complete the sale by the end of the second quarter.

Verso CEO Dave Paterson says the move will be beneficial for both companies and offer a better base against the increased use of digital media in the market. Paterson will be the head of the new board.

The new company will have 11 plants in 6 states including the one in Wisconsin Rapids.

Comments