American Community Newspapers Inc.









ThinkEquity Partners LLC 5^th Annual Growth Conference
September 17, 2007

In the community, With the community,
For the community.

Safe Harbor

This presentation may contain forward–looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about
American Community Newspapers Inc. (formerly known as Courtside Acquisition Corp.) (“ACN Inc.”), American Community Newspapers LLC
(“ACN LLC”) and their combined business after completion of the acquisition of the business and assets of ACN LLC by ACN Inc.  Forward–
looking statements are statements that are not historical facts.  Such forward–looking statements, based upon the current beliefs and
expectations of ACN Inc.’s management, are subject to risks and uncertainties which could cause actual results to differ from the forward-
looking statements.  The following factors, among others, could cause actual results to differ from those set forth in the forward–looking
statements: economic and demographics of the local communities ACN Inc. serves; paper costs; fluctuations in customer demand; shifting of
traditional media spending from print to new media; ability to find, effectuate and integrate acquisitions; impact of significant indebtedness;
declining circulation; seasonality; environmental and employee and safety issues; reliance on key personnel or inability to attract qualified
personnel; as well as other relevant risks detailed in ACN Inc.’s filings with the Securities and Exchange Commission (“SEC”)
(http://www.sec.gov), including its prospectus dated June 30, 2005, its annual report on Form 10-K for the year ended December 31, 2006, its
quarterly reports on Form 10-Q for the quarters ended March 31, 2007 and June 30, 2007, its definitive proxy statement dated June 15, 2007
and its other filings with the SEC.  The information set forth herein should be read in light of such risks.

ACN LLC’s financial information was prepared by ACN LLC as a private company, and derived from financial statements prepared in
accordance with U.S. generally accepted accounting principles (“GAAP”).  Such financial information included herein does not conform to SEC
Regulation S–X.  Accordingly, such historical information has been adjusted and presented differently in ACN Inc.’s proxy statement to solicit
stockholder approval of the acquisition of the business and assets of ACN LLC.  Furthermore, this presentation includes certain financial
information (EBITDA, Adjusted EBITDA and Newspaper Cash Flow) not presented in accordance with GAAP.  Accordingly, such information
may be materially different as presented in ACN Inc.’s proxy statement which was used to solicit stockholder approval of the transaction.   ACN
Inc. believes that the presentation of these non-GAAP measures provide information that is useful to investors as it indicates more clearly the
ability of ACN Inc. to meet capital expenditures and working capital requirements and otherwise meet its obligations as they become due.  
EBITDA and Adjusted EBITDA were derived by taking earnings before interest, taxes, depreciation and amortization and public company costs
as adjusted for certain one-time non-recurring items and exclusions.  Newspaper Cash Flow was derived by taking earnings before corporate
expenses, interest, taxes, depreciation and amortization and public company costs as adjusted for certain one-time non-recurring items and
exclusions.  In calculating EBITDA, Adjusted EBITDA and Newspaper Cash Flow and other financial information contained herein, acquisitions
(and a disposition) have been presented as if the acquisitions (and disposition) were made as of the first day of the earliest fiscal year
presented, except as otherwise indicated .  The historical financial information included in this presentation is not indicative of the future
performance of ACN Inc.  ACN Inc. assumes no obligation to update the information contained in this presentation.

American Community Newspapers Inc.

1

Investment Rationale

Differentiated and proven business model

Best in class assets

Multiple growth opportunities

Strong financial profile - outperforming the industry and solid
free cash flow generation

Experienced, dedicated management team and workforce

American Community Newspapers Inc.

2

Newspaper Industry – What You Are Hearing

Old media industry whose business model is crumbling

Continued weakness in advertising environment

Shrinking circulation and reach

Operating margins under pressure – cost cutting not enough

Internet initiatives too little, too late

No near-term story: what is the future?

American Community Newspapers Inc.

3

Why ACN is Different

Outperforming the industry

Strategically clustered, pure-play platform with market-leading
positions

Affluent, desirable and high growth demographics in each market

Controlled direct to home distribution to highly penetrated targeted
markets

Virtually exclusive source of intensely local content and advertising
which is highly valued by consumers

Mainstay of the community and less sensitive to macroeconomic
issues

Source: Public companies’ filings, Wall Street research reports

American Community Newspapers Inc.

4

Highlights of the Power of the Community Newspaper Platform⁽¹⁾

… and are generally more affluent,
more educated and have better jobs
than metro audiences

Median household income in
suburban markets is 68% higher
than the national average

70% of readers are college educated

80% of readers own their own home

86% of adults are interested in
community news

60% of adults turn to community
newspapers first for local news,
events and sports

51% of readers turn to community
newspapers for local shopping ads
vs. 28% for metro newspapers

Study results

Statistical highlights for ACN’s Readers ⁽²⁾

(1)

Suburban Newspapers of America and SNA/Belden study conducted in 2006

(2)

Excludes Columbus Cluster

Readers in suburban communities
have strong interests in community
news…

American Community Newspapers Inc.

5

ACN is a Best-in-Class Asset

An industry leader in profitability metrics

Operates in affluent, desirable, high growth demographics

Tight cluster strategy provides opportunity to realize synergies
from cross-selling opportunities and significant cost efficiencies

Solidified a leading position in delivering proprietary online
content in its markets

Management team with successful operating and acquisition track
record

American Community Newspapers Inc.

6

Who We Are

American Community Newspapers Inc.

Daily newspapers:

Weekly newspapers:

Niche publications:

Circulation:

2006 Revenue⁽¹⁾:

2006 NCF ⁽¹⁾:

2006 NCF margin ⁽¹⁾:

Northern
Virginia

—

4

4

219,000

Total

3

83

14

1,386,000

$76.8mm

$18.4mm

24.0%

ACN is a leading community
newspaper publisher with operations
in four attractive major U.S. markets

Dallas

2

14

6

298,000

Minneapolis

1

43

—

457,000

Columbus

—

22

4

412,000

(1) Pro forma for Columbus Cluster acquisition as if it occurred on the first day of the period

American Community Newspapers Inc.

7

$144,900

$44,400

$81,400

$70,000

$55,400

Columbus

Minneapolis

Dallas

Northern

Virginia

U.S.

Average

Among the Fastest Growing and Most Affluent Markets in the
U.S.

(1) Statistics from Sales & Marketing Management 2005 Survey of Buying Power

(2) Statistics are for ACN’s readers from SNA-Belden 2006 Research Study and the Media Audit – International Demographics

Minneapolis Cluster (Minneapolis – St. Paul MSA)

12^th highest median household effective buying income
(EBI) nationally

12^th largest retail market with $74.2 billion in retail sales

Dallas Cluster (Dallas – Fort Worth MSA)

17^th highest median household EBI nationally

7^th largest retail market with $106.7 billion in retail sales

Over 30% of Texas retail sales in Dallas-Fort Worth  
area

Northern Virginia Cluster (Washington, DC MSA)

2^nd highest median household EBI nationally

8^th largest retail market with $89.5 billion in retail sales

Columbus Cluster (Columbus, OH MSA)

31^st highest median household EBI nationally

28^th largest retail market with $29 billion in retail sales

U.S.
average

Median Household Income ⁽²⁾

Key Market Statistics ⁽¹⁾

American Community Newspapers Inc.

8

ACN’s Newspapers are Local Community Focused

ACN focuses on local news that is consistently overlooked by metro newspapers, radio
stations and television including:

Local city council and government

School districts, high school sports and youth sports

Special editorial sections relevant to the community

Festivals, events and calendars

Local police, fire and rescue

Local businesses

Each of ACN’s community newspapers mirror the goings-on and happenings for that
local audience; ACN has more local news gatherers than its direct competitors in
many of its markets

High quality publications that have won awards for the Best Weekly Newspaper in the
U.S. as well as over 100 awards for design, editorial and general excellence

U.S. Best Non-Daily Newspaper over 10,000 circulation – First Place, 2006 –
Eden Prairie Sun Current ⁽¹⁾

Best Weekly Website, 2007 – Monticello Times ⁽²⁾

(1)

Inland Press Foundation

(2)

Minnesota Newspaper Association

American Community Newspapers Inc.

9

ACN is an Integral Part of the Communities it Serves

American Community Newspapers Inc.

10

ACN has Aggressively Built its Internet Presence

ACN’s Internet portal provides unique, localized content that effectively increases “editions” through
online breaking news, while increasing reach beyond printed products

Successful implementation of new online features:

Video news and sports coverage

Video retail advertisements

Blogging initiatives

User-generated content

Exceptional customer acceptance during 2006, as demonstrated by the following growth metrics⁽¹⁾:

Visits per month increased by approximately 300%

Page views increased by more than 200%

Revenue increased by 210% year-over-year reaching approximately 2% of ACN’s revenue in
2006

Over the last twelve months, ACN has solidified a leading position in delivering
local content through online media expansion

(1) Excludes Columbus Cluster

American Community Newspapers Inc.

11

New Media / Internet Portal

American Community Newspapers Inc.

12

Experienced, Industry-Leading Management Team

Joined ACN in December 2001

13 years of publishing experience

Prior work experience:

CEO, Southern Division,  Brown Publishing

VP of Sales and Marketing, Trinity Holdings

President of Profits Through Marketing

EVP of Arundel Communications

Exec. Sales Director, Cincinnati Suburban Press

Board affiliations:  Board of Suburban Newspapers of
America and former Board member of Village Voice
Media

Prior work experience:

EVP and CFO,  Novo Networks

Co-founder of Marcus and Partners

VP, Strategic Development of AMFM

SVP, Finance/Corp. Development for Marcus Cable

Director of Finance/Development, Crown Media

Board affiliations: Former Board member of the Texas
Community Newspaper Association

Prior work experience:

Group Advertising and Marketing Director for Brown
Publishing

Publisher of The Morning Journal (Trinity Holdings)

Advertising Manager for the Battle Creek Enquirer
(Gannett)

Prior work experience:

Group Publisher of Greater Kansas City Community
Newspapers (News Press-Gazette Company)

Group Publisher of Sun Publications (ACN)

Publisher of Times Herald (Bradford Publishing)

Various positions with Thomson Newspapers

Prior work experience:

Publisher of Sun Gazette Newspapers

Advertising Director of The Journal Newspapers

Prior work experience:

General Manager of Pennysaver Publications

Held numerous positions including Accounting
Manager, VP of Operations and VP of
Classifieds

Instrumental in growing Pennysaver circulation
from 16,000 to 780,000

Gene Carr

Chairman and

Chief Executive Officer

Joined ACN in August 2001

28 years of publishing experience

Joined ACN in May 2002

20 years of financial / media
experience

Dan Wilson

Chief Financial Officer

Jeff Coolman

VP of Sales and Group
Publisher of Minneapolis
Newspaper Group

Donna Talla

Group Publisher of
Northern Virginia
Newspaper Group

Bill Weaver

Group Publisher of Dallas
Newspaper Group

Joined ACN in January 2007

31 years of publishing experience

Joined ACN in August 2005

12 years of publishing experience

Roy Biondi

VP and Group Publisher of
Columbus Newspaper
Group

Rejoined ACN in May 2007
(ACN’s former Kansas City Group
Publisher)

21 years of publishing experience

American Community Newspapers Inc.

13

Multi-Faceted Growth Strategy

Organic Growth

Strategic Add-on Acquisitions

New Cluster Acquisitions

American Community Newspapers Inc.

14

Multi-Faceted Growth Strategy – Organic Growth

Continue to strengthen position as a leading provider of local
print and online content

Capture a larger number of local and major national advertisers
through increased calls, training and territory staffing

Continue to develop new products and enhance ACN’s existing
products in order to increase the value proposition for both
ACN’s advertisers and ACN’s readers

Further the monetization of accelerating growth in traffic to
ACN’s websites through the launch of complementary products
and potential partnerships with major web players

Capitalize on market household growth

American Community Newspapers Inc.

15

Multi-Faceted Growth Strategy - Acquisitions

Strategic
Add-ons

New
Clusters

Large and fragmented marketplace = acquisition opportunities

Expansion opportunities in contiguous markets to further leverage
clustered platform

Leverage scale and clustering advantage to increase revenue and
EBITDA growth

Available capacity in existing press facilities

Expanded advertising packages and greater zoning options

Efficiencies from centralized back office functions

New stand-alone clusters in similarly attractive suburban markets

Columbus

Non-auction opportunities successfully identified and executed

Access to public currency will facilitate future acquisitions

American Community Newspapers Inc.

16

Successful Track Record of Acquisitions

Add-on acquisitions leverage ACN’s existing operating platform delivering
significant cash flow synergies contributing to reduction in purchase multiples

Dallas

McKinney Courier-Gazette,
July 2005

Group of one daily, one
weekly and other niche
publications located in
McKinney, Texas

Pre Acquisition
Revenue: $2.8mm

Circulation: 43,000

Minneapolis

Northern Virginia

Monticello Times, May 2005

Group of one paid
weekly and one free
weekly publications
located in Monticello,
Minnesota

Pre Acquisition
Revenue: $1.6mm

Circulation: 29,000

Suburban Washington
Newspapers / Sun Gazette,
August 2005

Group of two weekly
and two monthly
publications located  
principally in Fairfax and
Loudoun County
Virginia

Pre Acquisition
Revenue: $3.2mm

Circulation: 105,000

Amendment One / Leesburg
Today, March 2006

Group of one weekly,
one monthly and one
quarterly publications
located  in Loudoun
County Virginia

Pre Acquisition
Revenue: $5.6mm

Circulation: 94,000

Columbus

CM Media, Inc.

Group of 22 weekly
newspapers and 4 niche
publications in and
around the Columbus
metropolitan area

Pre-acquisition
revenue: $23.3mm

Circulation: 412,000

American Community Newspapers Inc.

17

NCF

Revenue Growth

$0

$10

$20

$30

$40

$50

$60

2003

2004

2005

2006

$0

$2

$4

$6

$8

$10

$12

$14

$16

2003

2004

2005

2006

$0

$2

$4

$6

$8

$10

$12

$14

2003

2004

2005

2006

Historical Financial Overview ⁽¹⁾

($ in thousands)

2003

2004

2005

2006

(2)

CAGR (03-06)

Revenue

$43,703

$46,606

$49,805

$53,506

7.0%

          % Growth

6.6%

6.9%

7.4%

Newspaper Cash Flow

$8,940

$9,919

$11,258

$14,405

17.2%

          Margin

20.5%

21.3%

22.6%

26.9%

          % Growth

11.0%

13.5%

28.0%

Adjusted EBITDA

$7,735

$8,886

$10,162

$12,923

18.7%

          Margin

17.7%

19.1%

20.4%

24.2%

          % Growth

14.9%

14.4%

27.2%

18

American Community Newspapers Inc.

EBITDA Growth

(1)

Each year pro forma for all completed acquisitions excluding Columbus Cluster which was acquired on April 30, 2007

(2)

2006 has one less week than 2005.  When the effect of this week is removed, revenue grew 8.6%

Long-Standing Client Relationships Drive Revenue

Over 40,000⁽¹⁾ individuals and businesses advertise in ACN’s
publications

ACN top 20 advertisers contributed 7.3% of 2006A⁽¹⁾ revenues

Limited reliance on circulation revenue

2006A Revenue Breakdown ⁽¹⁾

Print

Advertising

92%

Circulation

4%

Internet

2%

Other

2%

(1) Excludes Columbus Cluster

American Community Newspapers Inc.

19

First Half 2007 Financial Results

(1) Excludes impact of acquisitions made in the current or prior year.

Six Months Ended

($000s)

July 1, 2007

July 2, 2006

GAAP

Same Property

Revenues:

Advertising

28,852

$        

23,793

$        

Circulation

1,081

950

Commercial printing and other

717

428

     Total revenue

30,650

25,171

21.8%

1.2%

Operating costs and expenses:

Operating costs

13,118

10,577

Selling, general and administrative

9,237

7,915

Newspaper cash flow

8,295

6,679

24.2%

8.9%

NCF margin

27.1%

26.5%

Corporate expense

768

760

EBITDA

7,527

$         

5,919

$         

27.2%

11.7%

EBITDA margin

24.6%

23.5%

Y/Y Percent Change

(1)

American Community Newspapers Inc.

20

Summary

Pure-play community newspaper platform

Strategically clustered market-leading positions in attractive
markets, offering a tremendous value proposition for advertisers

Successful track record of acquiring and integrating new assets
as well as growing organically

Strong financial profile - outperforming the industry and solid
free cash flow generation

Significant opportunities for future growth

Experienced, dedicated, successful management team and
workforce

American Community Newspapers Inc.

21

American Community Newspapers Inc.










ThinkEquity Partners LLC 5^th Annual Growth Conference
September 17, 2007

In the community, With the community,
For the community.

Appendix

American Community Newspapers Inc.

23

Minneapolis

24

American Community Newspapers Inc.

Detailed Market Profile - Minneapolis

Note: Map does not show two newspaper operations in Albany and Melrose, MN, which are located northwest of St. Cloud, MN

Dallas

Detailed Market Profile - Dallas

American Community Newspapers Inc.

25

The Celina Record

Little Elm Journal

McKinney Courier-Gazette

Penny Saver

The Allen American

Plano Insider

Plano Star Courier

Rowlett Lake Shore Times

The Mesquite News

Carrollton Leader

Coppell Gazette

Southlake Times

Flower Mound Leader

Lewisville Leader

The Colony Leader

The Frisco Enterprise

Little Elm

Flower Mound

Frisco

McKinney

Allen

Plano

Rowlett

Carrollton

Southlake

Celina

Mesquite

Dallas

The Colony

Lewisville

DALLAS
COUNTY

DENTON
COUNTY

COLLIN
COUNTY

ROCKWALL
COUNTY

A

U

U

U

U

Main office

Production

Sales/Editorial

Dallas Fort Worth
International Airport

Major Universities

A

U

Northern Virginia

Detailed Market Profile – Northern Virginia

26

LOUDOUN
COUNTY

FAIRFAX
COUNTY

PRINCE
WILLIAM
COUNTY

Middleburg

South Riding

Dulles

Ashburn

Leesburg

Manassas

Clifton

Centreville

Manassas
Park

Great Falls

Tysons
Corner

McLean

Arlington

Alexandria

Falls
Church

Springfield

Burke

Chantilly

Herndon
Reston

Vienna

Oakton

Fairfax

Washington,
DC

Leesburg Today

Loudoun Magazine

Loudoun Business

Great Falls / McLean / Oakton
/ Vienna Sun Gazette

Arlington Sun Gazette

Middleburg Life

Parent Life

Ashburn Today

American Community Newspapers Inc.

Columbus

27

Bexley News

Big Walnut News

The Booster

The Times

Delaware News

Dublin News

Gahanna News

German Village
Gazette

Grove City News

Hilliard
Northwest News

New Albany
News

Northwest
Columbus News

Olentangy
Valley News

Pickerington
Times-Sun

Reynoldsburg
News

Tri-village News

Westerville
News & Public
Opinion

Westland News

Whitehall News

Worthington
News

Upper Arlington
News

Northland News

Detailed Market Profile - Columbus

American Community Newspapers Inc.

Production & Administration

Mount Liberty

Delaware

New Albany

Plain City

Orange

Pleasant

Corners

Obetz

Grandview heights

Groveport

Pickerington

Whitehall

Powell

Bexley

Reynoldsburg

Hilliard

Gahanna

Westerville

Upper Arlington

Dublin

ACN’s Publications by Region

Minneapolis

www.mnsun.com

Apple Valley / Rosemount Sun Current

Bloomington Sun Current

Brooklyn Center Sun Post

Brooklyn Park Sun Post

Burnsville / Savage Sun Current

Eagan Sun Current

East Minnetonka Sun Sailor

Eden Prairie Sun Current

Edina Sun Current

Excelsior / Shorewood / Chanhassen Sun Sailor

Blaine / Spring Lake Park Sun Focus

Fridley / Columbia Heights Sun Focus

New Brighton / Mounds View Sun Focus

Roseville / Falcon Heights Sun Focus

New Hope / Golden Valley Sun Sailor

Plymouth East Sun Sailor

Plymouth West Sun Sailor

Richfield Sun Current

Robbinsdale / Crystal Sun Post

Hopkins Sun Sailor

Lakeville Sun Current

South St. Paul / Inver Grove Heights Sun Current

St. Louis Park Sun Sailor

Wayzata / Orono / Long Lake Sun Sailor

West Minnetonka / Deephaven Sun Sailor

West Saint Paul / Mendota Heights Sun Current

Stillwater Evening Gazette

The Valley Life

Champlin / Dayton Sun Press

Delano Eagle Sun Press

North Crow River Sun Press

Osseo / Maple Grove Sun Press

Rockford Area News Sun Press

South Crow River Sun Press

Stearns-Morrison Enterprise

Melrose Beacon

Carver County News

Gold Miner

Minneapolis (Cont’d)

Norwood Young America Times

The Laker

The Pioneer

Waconia Patriot

Monticello Times

Monticello Shopper

Dallas

www.scntx.com

Plano Star Courier

Plano Insider

Allen American

McKinney Courier-Gazette

Frisco Enterprise

Celina Record

Mesquite News

Rowlett Lakeshore Times

Little Elm Journal

Lewisville Leader

Flower Mound Leader

Coppell Gazette

The Colony Leader

Carrollton Leader

Southlake Times

Penny Saver

North Texas Life

Stonebridge Life

All About Frisco

All About Coppell

All About Flower Mound

Lantana

Northern Virginia

Leesburg Today - www.leesburgtoday.com

Ashburn Today - www.ashburntoday.com

Loudoun Magazine - www.loudounmagazine.com

Loudoun Business - www.loudounbusiness.com

Arlington Sun Gazette - www.sungazette.net

Great Falls / McLean / Oakton / Vienna Sun Gazette

Middleburg Life - www.middleburglife.net

Parent Life - www.nvparentlife.com

Columbus

www.snponline.com

Bexley News

Big Walnut News

The Booster

The Times

Delaware News

Dublin News

Gahanna News

German Village Gazette

Grove City News

Hilliard Northwest News

New Albany News

Northland News

Northwest Columbus News

Olentangy Valley News

Pickerington Times-Sun

Reynoldsburg News

Tri-Village News

Upper Arlington News

Westerville News & Public Opinion

Westland News

Whitehall News

Worthington News

Columbus Monthly Magazine -
www.columbusmonthly.com

The Other Paper - www.theotherpaper.com

C.E.O. Magazine - www.columbusceo.com

Columbus Bride - www.columbusbride.com

Note: Boldface indicates recent acquisitions

American Community Newspapers Inc.

28

The Courtside/ACN Transaction

Asset purchase agreement signed January 24, 2007 and closed on July 2, 2007

ACN acquired certain assets of CM Media, Inc. – new ACN Columbus Cluster – on April 30, 2007

Terms of the transaction:

Purchase of assets for $206.8 million, including working capital adjustments

ACN management purchased and holds $1.0 million of stock, approximately 176,000 shares and
signed four year employment agreements

Senior credit facility of $125.0 million, with $13.5 million revolving credit availability after
closing

Contingent payments

A range of $1 million to $15 million earnout with 2008 newspaper cash flow (“NCF”) ranging
from $19 million to $21 million

$10 million payable to sellers if stock price is at least $8.50 for a specified period by July
2009

Pro forma capitalization:

Senior Debt

111,500,000

$      

Mezzanine Debt

30,000,000

Preferred Stock

4,219,300

Cash on Hand

(750,000)

Net Debt / Preferred

144,969,300

$      

Outstanding Common Shares

14,620,945

Share Price - September 7, 2007

4.20

$                  

Market Capitalization

61,407,969

$        

Enterprise Value

206,377,269

$      

29

American Community Newspapers Inc.

As of July 2, 2007

2006 Financial Overview Pro Forma for Columbus

($ in thousands)

ACN

Columbus

2006A

2006A

2006PF

(1)

Revenue

$53,506

$23,252

$76,758

          % Growth

Newspaper Cash Flow

$14,405

$4,025

$18,430

          Margin

26.9%

17.3%

24.0%

          % Growth

Adjusted EBITDA

$12,923

$4,025

$16,948

          Margin

24.2%

17.3%

22.1%

          % Growth

31.1%

30

American Community Newspapers Inc.

(1)

Pro forma for Columbus Cluster acquisition

Reconciliations

Reconciliation of Net Income to EBITDA - Unaudited ($000s)

Six Months Ended

July 1, 2007

July 2, 2006

Net income

2,235

$         

1,731

$         

State taxes (non income)

-

45

Interest expense

3,308

2,461

Depreciation and amortization

1,984

1,682

     EBITDA

7,527

$         

5,919

$         

Reconciliation of Net Income to Newspaper Cash Flow - Unaudited ($000s)

Six Months Ended

July 1, 2007

July 2, 2006

Net income

2,235

$         

1,731

$         

State taxes (non income)

-

45

Interest expense

3,308

2,461

Depreciation and amortization

1,984

1,682

Corporate expense

768

760

     Newspaper Cash Flow

8,295

$         

6,679

$         

American Community Newspapers Inc.

31