CherryRoad Media Inc. announced today it has purchased nine newspapers from Rust Communications, Inc. The newspapers are published in Arkansas and Missouri.
Randy Cope of Cribb, Cope & Potts, the oldest newspaper and publication brokerage in the United States, represented Rust Communications in the transaction. Terms of the sale were not disclosed.
This marks the latest acquisition for CherryRoad Media, which entered the newspaper industry in late 2020 with the purchase of the weekly Cook County (Minnesota) News-Herald. It has since acquired 52 other titles, including four in Arkansas and four in Missouri, as well as two start-up newspapers in Minnesota.
CherryRoad Media is a wholly owned subsidiary of CherryRoad Technologies, a Parsippany, New Jersey-based technology company that has been in business since 1983. CherryRoad provides complex technical solutions and system integration services to large enterprise customers, particularly state and local government entities. CEO Jeremy Gulban says the company decided in 2020 to look at the local newspaper industry because they felt there was a need for an infusion of technology from a supportive side, as opposed to a competitive side.
“We are very excited to be working with a great group of people to serve these communities in Arkansas and Missouri going forward,” said Jeremy Gulban, CEO of CherryRoad Media and CherryRoad Technologies. “We plan to keep the focus on local news and to offer additional digital solutions to supplement the printed newspapers. I want to thank the Rust family for working with us to find a good home for these important community publications.”
Rust Communications, based in Cape Girardeau, Missouri, is a second-generation media company with 33 newspapers and minority ownership of 17 radio stations in nine states.
“Jeremy and CherryRoad’s commitment to employees, technological innovation and small markets is impressive,” said Jon K. Rust, president of Rust Communications. “We are thrilled to connect them and their passion for news with a great group of employees and towns.”
The transaction closed today — March 1 — and the newspapers acquired include the following titles:
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