GateHouse Media to acquire New Jersey Herald
GateHouse Media has agreed to acquire the daily Newton (N.J.) New Jersey Herald from family-owned Quincy Media.
Dirks, Van Essen, Murray & April, a media merger and acquisition firm based in Santa Fe, N.M., represented Quincy Media in the transaction. Terms of the transaction were not disclosed.
In announcing the pending sale to Herald staff, Ralph Oakley, CEO of Quincy Media, the newspaper's current owners, said, "We are proud to have been associated with the New Jersey Herald for more than 50 years.
"The paper has done a wonderful job of covering the Sussex County area. This change in ownership will allow the newspaper to continue as a very important institution in this region."
Joe Vanderhoof, regional vice president of GateHouse's Mid-Atlantic group, who was present for the announcement, said, "I'm very excited about this pending acquisition of The New Jersey Herald and continuing the legacy of award-winning community journalism.
"We also value the paper's strong relationships with readers, advertisers and the broader business community."
GateHouse Media, LLC, headquartered in Pittsford, N.Y., publishes hundreds of weekly newspapers and more than 150 dailies including The Burlington County Times, in Westhampton, The Times Herald-Record in Middletown, N.Y., and the Pocono Record in Pennsylvania.
GateHouse is a wholly-owned subsidiary of New Media Investment Group Inc., which is focused primarily in a high quality, diversified portfolio of local media assets and on growing existing advertising and digital marketing and business services. The company operates in over 615 markets across 39 states, reaching over 22 million people on a weekly basis and serves over 200,000 business customers.
Based in Quincy, Ill., Quincy Media began as Quincy Newspapers Inc. in 1926 when two Quincy, Ill., newspapers merged to create the Herald-Whig. It has since moved into broadcast news and changed its names to Quincy Media in 2016 with properties in 16 television markets.
It is anticipated the sale of the newspaper will be completed sometime this summer.