Deal activity stays strong
32 daily newspapers sold in first half of 2019, tops last year’s numbers
Daily newspapers continued to change hands at a brisk pace in the first half of 2019, largely driven by the sale of family-owned titles.
In total, 32 daily newspapers were sold or agreed to be sold in the first six months of the year, more than the number of dailies involved in transactions during the same period last year.
New Media Investment Group, through its subsidiary GateHouse Media, continued to be an active acquirer, buying newspapers owned by Schurz Communications and one other in a separate deal. Paxton Media Group acquired four dailies in three transactions, and Adams Publishing Group acquired four daily newspapers in three deals in Wisconsin.
As has been the case for several years now, buyers were looking to build a larger regional footprint through strategic acquisitions.