By: E&P Staff The Rollins family, owners of the The Herald-Sun in Durham, N.C., sold The Durham Herald Company to Paxton Media Group. Dirks, Van Essen & Murray brokered the deal.
Paxton agreed to purchase 100% of outstanding stock held by Rollins family members. Terms of the deal, which also includes The Chapel Hill Herald, were not disclosed.
"We are confident that the Paxton Group will continue the vigorous and dedicated tradition of concerned journalism that has been the hallmark of our company during its 109 years of publishing," said E.T. Rollins, Jr., chairman of the board of the Herald-Sun, in a statement.
The Rollins family has owned the Herald-Sun -- which combined the Durham Morning Herald and The Durham Sun --since 1895.
"We are extremely gratified that the Rollins family has entrusted us with the stewardship of the Herald-Sun," said David Paxton, president of Paxton Media Group, in a statement. "As we have grown we have sought to combing the best elements of local, family ownership with the advantages and operating efficiencies of a larger organization."
Paxton Media Group is a fourth generation, family-owned media company founded in 1896 and is based in Kentucky. The company publishes 28 newspapers. The Herald-Sun will be its 29th and largest, with more than a 50,000 daily circulation.
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