A common goal of all businesses is to succeed. For some companies, success may be the expansion of its business. For other companies, however, success may be the sale of a business.

The publisher of the Baton Rouge newspaper, The Advocate, has signed a letter of intent to sell the local newspaper. The publisher is also the Chief Operating Officer of Capital City Press, the owners of The Advocate. While the terms of the deal have not been disclosed, the deal is expected to close on June 1, 2013.

The future owner of The Advocate is a New Orleans businessman, who already owns and manages a number of other businesses in Louisiana. The businessman first approached Capital City Press two years ago with an interest in buying the newspaper.

While a company’s ultimate goal may be to sell its business, there are certain things the company will first want to understand. In any business transaction it is important that a business get the best deal it possibly can. When it comes to selling a business, the owners will need to first realize its company’s value. Any company that plans to sell its business also must understand that the sales agreement is the principal document in the sale of a business. This agreement includes such information as the payment terms, purchase price, what is being sold and the date of closing.

While selling a business is often a lengthy process, there are things a company must first understand before it enters into this type of business transaction.

Source: Thetowntalk.com, “New Orleans investor to buy Baton Rouge newspaper,” March 17, 2013