By: E&P Staff
Geraldo has left the building: The Two River Times, an award-winning weekly newspaper in Red Bank, N.J., has a new owner.
The longtime Two River Times owner and publisher, Geraldo Rivera, also known as a television celebrity, has completed the sale of the paper to Michael J. and Diane Gooch of Rumson, N.J. Rivera has owned the paper for 14 years.
Michael Gooch, who is Chairman, CEO, and founder of GFI Group, an inter-dealer brokerage with offices in London and New York, said he and his wife “are not looking to make any major changes at the paper. We think the product is already excellent. As we live in the area and have children in the schools and have seen the changes over the years, I believe that we can be a positive addition to the paper.”
Red Bank, among other things, is known as the hometown of film director Kevin Smith and is in Bruce Springsteen’s back yard.
Gooch said that he approached Rivera about buying The Two River Times several months ago. Rivera, who had moved away from the area, agreed to sell. A press release Wednesday from the newspaper quoted him saying: “The city of Red Bank and the two rivers need a more connected and locally based hand on the helm than mine. While I still have dear friends in the neighborhood,” Rivera continued, “the physical absence from the community has necessarily reduced the personal touch it takes to guide a neighborhood-based publication like this one.”
Rivera became the paper’s sole owner in 1996 and later assumed the role of publisher, which he held until last Thursday. During recent years, the paper won numerous awards.
Diane Gooch will become publisher effective immediately. Eileen Moon remains as editor.