Deal activity stays strong
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.
MORENumber of daily newspaper deals highest since 2000
The newspaper industry saw its busiest transaction year in nearly two decades with 31 separate deals involving daily newspapers in 2017, according to Dirks, Van Essen & Murray.
Phil Murray, senior vice president, said the activity was driven by two factors.
MOREMegaclustering is coming for your daily newspaper
People in the newspaper industry increasingly joke about the triumvirate of Gatehouse Media LLC, Digital First Media Inc. and Gannett Co. taking over the bulk of the country's 1,350 daily newspapers as conglomerate Gannett-Gatehouse-DFMCo. Today, those three companies own a full quarter of the nation's dailies, as family-run operations dwindle and final generations of newspaper-owning families look for the exits before the passageway becomes too narrow.
At the 25 percent level, we may seem like a long way away from Gannett-Gatehouse-DFMCo, but a newer phenomenon – megaclustering – moves the industry closer in that direction.
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Calculating your purchase price
Regardless of how a buyer and seller come to terms, even if the value seems to be there, there is one more factor a buyer should consider – can this business repay my investment in a timely manner or make loan payments – and still provide me with an income?
MORELewiston Maine daily/weekly cluster to be sold
Sun Media Group has agreed to sell its assets to SJ Acquisition, a company controlled by RFB Holdings, which also owns MaineToday Media, Alliance Press in Brunswick and Courier Publications, based in Rockland. The sale is scheduled to close on Aug. 1. John Cribb and Randy Cope of Cribb, Greene & Cope brokerage firm represented the Costello Family in the transaction.
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We have a new website:
www.newspapers.org
America's Newspapers – the association formed from the merger of the Inland Press Association and Southern Newspaper Publishers Association – was ceremonially launched October 6 at its inaugural annual meeting in Chicago.
Dean Ridings will be its chief executive officer, effective Nov. 11.
America's Newspapers unites two of the oldest press associations to form one of the industry's largest advocates for newspapers and the many benefits to their communities, civil life, freedom of expression and democracy.
"Newspaper journalism provides a voice for the voiceless, challenges elected officials, shines a light on government, calls for change when change is needed, and exposes corruption and injustice," said Chris Reen, the president and publisher of The Gazette in Colorado Springs who will serve as the first president of America's Newspapers.
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New association launches today;
SNPA-Inland merger is complete
A new association formed by the consolidation of SNPA and the Inland Press Association was officially launched today. The name of the new association will be announced on Oct. 6 at the association's first annual meeting in Chicago.
Edward VanHorn, SNPA's executive director, said that the merger unites two of the country's oldest press associations into a progressive new organization that will use its bigger and more powerful voice to be an unapologetic advocate for newspapers.
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