Illinois-based Shaw Media is acquiring The Times of Ottawa (Illinois) and its assets from Small Newspaper Group, company leaders announced March 21.
Shaw owns more than 150 titles in northern Illinois and Iowa. Shaw Media has been privately owned by the Shaw family since 1851.
"When we consider an acquisition, it has to make perfect sense, both financially and strategically. The Ottawa Times checks both boxes," said Shaw President and CEO John Rung. "The addition of The Times to our portfolio of local newspapers makes Shaw Media a stronger company."
The Times serves both Ottawa and Streator, Illinois, publishing a paper five days a week. The asset sale involves related operations, including Starved Rock County Magazine, a regional travel publication.
Kankakee, Illinois-based Small Newspapers owns two other daily papers, as well as magazines and digital services in Minnesota and Illinois.
“This marks the end of an 80-year journey with the newspaper that has been a source of pride," Small Newspapers President Len R. Small said. "We did our best to serve our communities, and the awards we received speak for themselves.”
The sale is expected to close the first week of April. Terms of the deal were not disclosed.
New Mexico-based firm Dirks, Van Essen & Murray represented the Small Newspaper Group in the transaction.