Republic sells its interest in Diamondbacks

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PHOENIX (AP) -- The parent company of The Arizona Republic, a member of an investor group that launched the Arizona Diamondbacks in the 1990s, has sold its minority interest in the team.

The state's largest newspaper sold its modest stake to the team within the last several weeks. Terms of the deal weren't disclosed.

Diamondbacks chief executive officer Jeff Moorad describes the parting as amicable.

Moorad says the newspaper company played a significant role in establishing professional baseball in Arizona and will continue to be part of the Diamondbacks tradition.

The Republic is owned by Gannett Corp. and is Gannett's biggest daily besides USA Today.