CherryRoad Media Inc. is acquiring three weekly Utah newspapers from Brehm Communications Inc. (BCI). The titles include The Richfield Reaper, The Vernal Express and the Uintah Basin Standard.
Dirks, Van Essen & April, a media merger and acquisition firm based in Santa Fe, New Mexico, is representing BCI in the transaction. Terms of the transaction were not disclosed.
Founded in 1888, The Richfield Reaper had been owned by BCI since 1990. The Uintah Basin paper, founded in 1909, and the Vernal Express, founded in 1891, were acquired by BCI in 2007.
Now with a presence in a dozen states, CherryRoad Media has been among the most acquisition-minded companies during the past two years. The company believes the newspaper is an essential resource for developing strong communities, and that it can leverage technology to supplement the printed newspaper with enhanced digital capabilities.
“CherryRoad is excited to become a part of these communities and the State of Utah. We look forward to helping strengthen local journalism through our understanding of technology, which is our goal everywhere we go,” said Jeremy Gulban, CEO of CherryRoad Media. “These operations, like so many in our industry, have struggled under the weight of disruption and a challenging economy. We are confident these newspapers can be strengthened through technology and made viable for the long run.”
“This transaction is bittersweet as our family has been in the newspaper business for over 102 years, however we felt it was time to pass these amazing publications and employees to a new home,” said Ryan Schuyler, president and CEO of BCI. “We believe the new owners will carry on the important mission of community journalism for years to come.”
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