Across the U.S. today, various publications are relaying to their readers some pressing news: they’ve been sold.
Morris Publishing Group, a part of Morris Communications Co., has been purchased by New York-based New Media Investment Group. This means that the Savannah Morning News, the Topeka Capitol-Journal and others will soon be added to subsidiary GateHouse Media’s already extensive portfolio of daily newspapers.
Three of the dailies in the Morris deal are located in Georgia, while another pair publish out of Alaska. The latter group is comprised of the Juneau Empire and the Peninsula Clarion.
The transaction is set to be finalized by Oct. 2. All told, when weeklies like Alaska’s Horner News and other properties are added, New Media Investment Group is acquiring 79 different outlets and assets from Morris.
The newspapers fall in line with a most interesting corporate strategy. From the New Media Investment Group website:
Eight-five percent of our daily newspapers have been published for more than 100 years and 100% have been published for more than 50 years. Our strategy is to acquire and operate traditional local media businesses and transform them from print-centric operations to dynamic multi-media operations, through our existing online advertising and digital marketing businesses.
Also part of the deal, a newspaper founded in 1879 with one of the greatest names of all: the Log Cabin Democrat, located in Conway, Ark. And for those who, like us, pay attention to such matters, plenty more hyphens on the daily side to go along with the Topeka newspaper: the Florida Times-Union, the Athens Banner-Herald, the Lubbock Avalanche-Journal and the Amarillo Globe-News.
Image via: newseum.org