By: E&P Staff
American Community Newspapers LLC (ACN) Tuesday announced it has purchased the publishing and printing assets of CM Media, Inc., the publisher of 22 Columbus, Ohio, area weeklies plus The Other Paper alternative weekly.
Included in the transaction is Columbus Monthly; Columbus C.E.O, a monthly business magazine; and Columbus Bride a twice annual bridal magazine and tradeshow. The purchase also includes CM Printing and Columbus Custom Publishing.
The combined circulation of the publications is about 410,000 households.
John Szefc and Larry Grimes of W.B. Grimes & Company served as financial advisors to ACM in the transaction.
ACN publishes three dailies, 84 weeklies and 13 niche publications in clusters located in the Minneapolis/St. Paul area, as well as Dallas, and northern Virginia.
“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,” ACN CEO Gene M. Carr said. “The Columbus market is similar to our other suburban markets in standing out in a series of indicators, including household income, household growth, schools and general leading edge, growth oriented communities. This acquisition furthers our suburban strategy to acquire strong, community newspaper franchises in top 50 U.S. markets and build value.”