By: E&P Staff
Horvitz Newspapers LLC agreed to sell The Daily Times, Maryville, Tenn., to the John M. Jones family, whose Jones Media Inc. has published Tennessee newspapers since 1916.
Headquartered in Bellevue, Wash., family-owned Horvitz bought the Daily Times from Persis Corp. in 1994. Horvitz publications include the Peninsula Daily News (E&P Online, June 28), in Port Angeles, Wash.
CEOs Peter A. Horvitz and Gregg K. Jones announced the agreement in principle to their employees July 1. The sale to Jones-owned Blount County Publishers is expected in the “very near future,” after completion of due diligence. At that time, said Horvitz, Daily Times Publisher Max Croster will retire. Jones Media will name his replacement.
Horvitz said the offer to buy the Daily Times and its related Websites “was particularly attractive because the Jones family has been publishing quality newspapers in the state of Tennessee for 94 years and they have a demonstrated commitment to the communities they serve.”
Cribb, Greene & Associates, Bozeman, Mont., is representing the Jones family in the acquisition. The Jones family owns 13 community newspapers and nine travel/tourism guides published in East Tennessee and western North Carolina. The company’s flagship newspaper is The Greeneville Sun.
Jones said the proximity of Maryville and Blount County to communities that his company already serves “will open the door for many operational synergies.”