Rust Comm. Buys Tenn. Daily

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By: E&P Staff Cape Girardeau, Mo.-based Rust Communications has bought the 8,200-circulation Shelbyville (Tenn.) Times-Gazette from David and Nina Gay Segroves, whose family had owned the evening daily for nearly 128 years.

Dirks, Van Essen & Murray, a newspaper merger-and-acquisition firm in Santa Fe, N.M., represented the Segroves family in the transaction. No terms of the sale were announced.

Hugh Jones, a native of Murfreesboro, will be the new publisher and part owner of the Times-Gazette. Family-owned Rust Communications has often permitted publishers to be part owners of its individual properties.

Rust has been growing quickly in recent years. The chain now owns 50 papers, including 18 dailies, in seven states, up from four dailies 11 years ago. In addition to the Times-Gazette, Rust publishes one other paper in Tennessee, the Dyersburg State Gazette. The company, chaired by Gary Rust with Jon Rust and Rex Rust serving as co-presidents, also owns 17 radio stations in Missouri and Illinois. 

"Much thought and prayer has gone into this decision and Rust Communications was picked from a dozen interested companies as the one to carry on the Times-Gazette banner," said David Segroves in a statement. "An important consideration in the final decision was the quality and integrity of the buyer. Nina Gay and I are convinced we are handing over the reins to a family that has demonstrated it cares about employees and it cares about the community the newspaper serves."

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