GateHouse parent New Media Investment Group is buying the Akron Beacon Journal from Black Press for $16 million, according to a release from New Media. In a separate transaction, New Media has agreed to sell GateHouse Media Alaska Holdings to Black Press.
The Akron Beacon Journal has a daily circulation of over 68,000 and offers the leading digital source of news for the local market, Ohio.com.
"The Akron Beacon Journal is a great addition to our large Ohio footprint of properties," said Michael E. Reed, New Media President and Chief Executive Officer. "In addition to being a long-standing dominant
source of award-winning journalism, its proximity to our properties in Wooster, Canton and Columbus is very exciting as we see many opportunities for growth."
"The newspapers in Alaska will fit in well with our publications in Washington State and British Columbia, and we are looking forward to being stewards of these well-respected titles," said Black Press Chairman David Black.
New Mexico-based Dirks, Van Essen & Murray represented Black Press in the transactions.
Both transactions are expected to close in the second quarter.