by: Press Release | W.B. Grimes & Company
Charlotte Media Group, a newly formed subsidiary of the McElvy Media Group of Houston Texas, has purchased the assets of the Carolina Weekly Newspaper Group from founder and publisher Alain Lillie of Charlotte, North Carolina. The acquisition includes the
South Charlotte Weekly,
Union County Weekly, Matthews-Mint Hill Weekly and the
Pineville Pilot. The four community newspapers are delivered weekly to over 60,000 homes and businesses in the South Charlotte market.
The sale was announced by Jonathan McElvy, president and CEO of McElvy Media Group LLC, the parent company of McElvy Media in Houston, Texas. The company is owned by McElvy and his wife, Meghan.
McElvy Media currently owns
The Leader (Houston, Texas), and has a management agreement to operate the
Ft. Bend (Texas)
Star and the
Ft. Bend Business Journal. David Slavin, W.B. Grimes & Company, represented the Carolina Weekly Newspaper Group in the transaction.
McElvy a Tuscaloosa, Alabama native, is a graduate of the University of Alabama, and spent the first seven years of his career learning from one of the most respected newspapers owners in the country, Jim Boone. In 2006, McElvy moved to Houston as vice president of ASP Westward, which owned more than 60 newspapers in Texas and Colorado. In 2012, McElvy purchased
The Leader in Houston, and in 2014, began a management contract to operate the
Ft. Bend Star and
Ft. Bend Business Journal. “Our company is so fortunate to have found a group of newspapers that have served residents of South Charlotte and Union County, and I’m incredibly grateful to Alain Lillie for the work he has done building a tremendous brand in this market. Our job is to take what Alain has built and do what we know how to do best: produce a quality product that readers anticipate every single week,” McElvy explained.
Frank Vasquez, Douglas McElvy and Robb Reeves joined McElvy Media Group as investors in the new Charlotte Media Group.
"It has been an difficult decision to sell the company after a deep personal involvement for many years,” Lillie said. Lillie, who also served as founder and publisher of both the
Mooresville Weekly and
Denver Weekly community newspapers serving the Lake Norman market said, “We believe that Jonathan will provide new ideas and resources that will help keep the
South Charlotte Weekly, Union County Weekly, Matthews-Mint Hill Weekly and the
Pineville Pilot viable community services moving forward. The commitment to offer our readers relevant hyper-local news and information remains unchanged."
Comments
No comments on this item Please log in to comment by clicking here