Rhode Island Suburban Newspapers (RISN) Inc. has proposed buying The Union Democrat newspaper and building for $1.15 million, The Union Democrat reported. The real estate accounts for $500,000 of the proposed purchase price, according to a notice filed in bankruptcy court. RISN was set up in December 2006 and bought the Journal Register Co.’s three daily newspapers and a group of weekly newspapers for $8.3 million in 2007. Competing bids for The Union Democrat are due by July 11 and must exceed the Rhode Island Suburban Newspapers proposal by at least $50,000, according to the notice. A hearing is scheduled for July 29.
