By: E&P Staff
Press release from issuing company.
ARLINGTON HEIGHTS, IL, November 12, 2010 – Paddock Publications, Inc. has acquired the Business Ledger and its complementary online product, The Business Edge, from Ohio Community Media. The bi-weekly Ledger is mailed to 10,000 business leaders in suburban Chicago’s DuPage, Kane and Will counties.
Dirks, Van Essen & Murray, a newspaper merger and acquisition firm in Santa Fe, New Mexico, represented Ohio Community Media in the transaction.
The acquisition follows Paddock Publication’s launch earlier this month of Daily Herald Suburban Business, a monthly magazine connecting business owners, managers and corporate leaders and their staffs in the Northwest Chicago suburbs of Cook and Lake counties. Daily Herald Suburban Business is mailed to 12,000 subscribers, and its e-newsletter is viewed by 5,000 registered users each week.
Douglas K. Ray, Chairman & C.E.O. of Paddock Publications, said, “These two new initiatives for Paddock–Daily Herald Suburban Business and the Business Ledger–make for a powerful combination and the largest suburban-based business product in the United States.”
“Paddock’s niche division, of which these business initiatives are a part, has been one of the bright spots in 2010 with strong revenue and growth,” Ray said.
The two business publications will continue to publish independently. Both will be printed at the Paddock Printing Center in Schaumburg. Events planned by the publications will focus on their core markets. Paddock Publications is the publisher of the suburban Chicago-based Daily Herald, dailyherald.com, Reflejos and an array of niche publications.
Ohio Community Media owns and operates a large portfolio of daily and weekly newspapers in western Ohio, in addition to business publications located throughout the country. OCM took ownership of these publishing assets through a court-ordered Section 363 bankruptcy sale of the Brown Publishing Company’s assets earlier this year.