By: E&P Staff Dallas-based American Consolidated Media LLC (ACM) announced Tuesday it bought the assets of The Grove Sun Newspaper Co. LLC, including The Grove Sun Daily in Grove, Okla.
ACM subsidiary Miami Newspapers Inc. bought the publishing company from the Peter M. Crow Revocable Living Trust.
Terms of the transaction were not disclosed.
In addition to the daily paper in northeast Oklahoma, the transaction includes the Oklahoma weeklies, The Delaware County Journal in Jay; The South Grand Lake in Langley; The Miami Sun; and the quarterly Grand Lake Magazine.
Seller Peter M. Crow was represented by JP Media Partners, a Gold River, Calif.-based merger and acquisitions firm.
The Grove Sun Daily, founded in 1898, is the second-oldest newspaper in Oklahoma.
ACM also said it had appointed Michael G. Thornberry regional vice president and publisher of the Grove Sun Daily.
Since 2003, Thornberry had served as publisher and general manager of the Lone Star News Group, a division of Community Newspaper Holdings Inc. (CNHI) with responsibility for three daily newspapers, four shopper publications and three specialty publications located in northeast Texas.
"Pete Crow has owned and operated The Grove Sun Daily for the past forty years and, in combination with his subsequent acquisition of The Delaware County Journal, he has provided a consistently high quality level of service and value to the readers and advertisers in Grove, Jay and the communities throughout Delaware County and the Grand Lakes region," Jeremy L. Halbreich, ACM chairman, president, and CEO said in a statement. ACM was "deeply flattered" to own the properties, he added.
ACM is a wholly-owned subsidiary of Sydney, Australia-based Macquarie Media Group, a publicly traded investment vehicle listed on the Australian Stock Exchange.
ACM owns and operates five daily newspapers in Alice, Brownwood, Stephenville and Waxahachie, Texas and in Miami, Oklahoma; 32 weeklies in Texas and Oklahoma; and five specialty publications in Texas.
Comments
No comments on this item Please log in to comment by clicking here