Mergers & Acquisitions
Ogden Newspapers buys loudoun Times-Mirror
West Virginia-based Ogden Newspapers has bought The Loudoun Times-Mirror (Leesburg, Virginia), the paper reported.
Terms of the deal were not disclosed.
Publisher Peter Arundel sold the newspaper to Ogden, publisher of 46 daily newspapers and more than 30 weekly newspapers around the country. The deal includesand LOUDOUNER, a quarterly lifestyle magazine. The Times-Mirror's print edition is delivered to some 55,000 homes weekly. Arundel will stay on as publisher.
The newspaper will keep its operation at the Leesburg Junction co-working space in downtown Leesburg. All members of the newsroom will stay onboard, according to the paper.
The paper began printing at Ogden’s facility in Frederick, Maryland, last week.
“We still believe very strongly in the power of printed newspapers and our family continues to be willing to invest in newspapers that provide a vital service to their readers and advertisers,” Ogden Newspapers CEO Bob Nutting said.
Among other holdings, the Nutting family is a majority owner of the Pittsburgh Pirates Major League Baseball franchise.
Adams Publishing buying florida’s sun coast Media
Adams Publishing Group announced June 18 that it’s buying Sun Coast Media Group, based in Venice, Florida, including SCMG's publications located on the west coast of Florida, according to Gary Greene and Randy Cope of merger and acquisition firm Cribb, Greene & Cope.
Terms of the deal weren’t disclosed.
Sun Coast Media Group newspapers to be included in the sale are The Venice Gondolier, The Arcadian, The West Villages Sun, The Englewood Sun, The North Port Sun, The Charlotte Sun and The Charlotte Sun Times.
Sun Coast Media Group is a family- and-employee-owned company founded by Derek Dunn-Rankin in 1976.
CEO David Dunn-Rankin announced the sale to employees by saying, “After 42 years of family ownership, the Dunn-Rankin family has regretfully decided that the time has come to entrust Sun Coast Media Group to another family.”
“We are extremely excited to have the Sun Coast Media Group and its Associates join the Adams Publishing Group family,” said APG principal Stephen Adams.
In a related transaction, David Dunn-Rankin is purchasing the daily Highlands News Sun and Polk County newspapers from Sun Coast Media Group, along with the Florida-based concerts business.
This will be APG's first newspaper acquisition in Florida and will continue community-oriented family ownership for the SCMG newspapers. The only other family-owned newspapers remaining in Florida are the Key West Citizen and the Villages Daily Sun.
Cribb, Greene and Cope represented Sun Coast Media Group in this transaction.
Paxton Media acquires The Batesville daily Guard
Paxton Media Group bought The Batesville Daily Guard (Batesville, Arkansas) from the Jones family on June 1, according to Randy Cope of merger and acquisition firm Cribb, Greene & Cope, who represented the Jones family.
Paxton Media, a family-owned company headquartered in Paducah, Kentucky, owns more than 36 daily newspapers, a television station and numerous weekly publications across Arkansas, Georgia, Indiana, Illinois, Kentucky, Louisiana, Michigan, Mississippi, North Carolina and Tennessee. Fourth- and fifth-generation family members manage Paxton Media.
“We are grateful that the Jones family has entrusted us with the stewardship of the Batesville Daily Guard,” said David Paxton, president and chief executive officer of Paxton Media Group.
The Daily Guard will join other Paxton publications in the AR/LA/MS division of Paxton Media Group, managed by Group Publisher David Mosesso.
cNHi looking to sell newspaper operations
CNHI is exploring the sale of its newspaper properties in 22 states, the company says.
The announcement came on the heels of the news that Parent company Raycom Media has signed an agreement to be acquired by Atlanta-based Gray Television group.
Montgomery, Alabama-based CNHI has more than 100 papers around the country. Raycom Media, which owns or operates television stations in 65 markets, acquired CNHI nine months ago.
CNHI CEO Donna Barrett said the company has retained the newspaper brokerage firm of Dirks, Van Essen, Murray and April to handle the sale of its newspapers.
“We’re excited to open the next chapter in our commitment to top-flight community journalism,” said Barrett. “We are looking for a transaction or transactions that will carry on CNHI’s rich tradition of public service through award-winning journalism.”
Group led by chicago crusader publisher buying Reader