NEW YORK--(BUSINESS WIRE)--New Media Investment Group Inc. (“New Media” or the “Company”, NYSE:NEWM), one of the largest publishers of locally based print and online media in the United States as measured by number of publications, announced today that it has completed its acquisition of substantially all of the publishing and related assets of the Akron Beacon Journal from Black Press, Ltd. (“Black Press”) for $16.0 million on May 11, 2018. In a separate transaction, New Media has completed its sale of substantially all of the publishing and related assets of GateHouse Media Alaska Holdings, Inc. (“Alaska Properties”) to Black Press.
The Akron Beacon Journal has been the newspaper of record in Greater Akron for over 175 years. It has a daily circulation of over 68,000 and also offers the leading digital source of news for the local market, Ohio.com. It has received the Pulitzer Prize four times and annually receives many accolades for its journalism. Akron is located in northeast Ohio and is the fifth-largest city in the state and is the county seat of Summit County. It has a low cost of living and strong retail sales, with both per capita income and median home values higher than the state average.
About New Media Investment Group Inc.
New Media supports small to mid-size communities by providing locally-focused print and digital content to its consumers and premier marketing and technology solutions to our small and medium business partners. The Company is one of the largest publishers of locally based print and online media in the United States as measured by our 144 daily publications. As of April 1, 2018, New Media operates in over 565 markets across 38 states reaching over 23 million people on a weekly basis and serves over 219,000 business customers.