By: E&P Staff
American Community Newspapers (ACN) purchased the publishing and printing assets of CM Media. The transaction includes Suburban News Publications, a group of 22 community weekly newspapers in Ohio.
Terms of the deal, brokered by W.B. Grimes & Co., were not disclosed.
“The publications of CM Media are well established, landmark newspapers and magazines that have proudly served the metropolitan community of Columbus and the surround area since 1975,” Gene M. Carr, CEO of ACN, said in a statement. “These publications will serve as the base of our new Columbus/Central Ohio newspaper group which we plan on rapidly expanding through acquisitions and new product launches.”
He continued: “This acquisition furthers our suburban strategy to acquire strong, community newspaper franchises in top 50 U.S. markets and build value.”
ACN is a group of three daily and 84 weekly publications and 13 niche products. The company’s core operations consist of a clustered newspaper group in the Minneapolis/St. Paul area.
“Our decision to sell the company was a difficult one, but we believe that Gene and American Community Newspapers will continue our tradition of providing Central Ohio with quality journalism,” said Max Brown, CM Media president, in a statement.
CM Media also publishes Columbus Monthly, The Other Paper, Columbus C.E.O. and Columbus Bride as well as CM Printing and Columbus Custom Publishing. All were included in the transaction.