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July 1, 2014
07:13 EDTNEWMNew Media announces two acquisition with $15.3M total purchase price
New Media announced that it has completed two acquisitions with a total purchase price of $15.3M. The two acquisitions are as follows: The firm announced the acquisition of American Consolidated Media Southwest operations, which is comprised of five daily, nine weekly newspapers and four shoppers centered on small-market communities in Texas, Oklahoma and Kansas. The regional publishing groupís assets are concentrated in Texas and have a total paid circulation of approximately 32K across all three states. The business also has a strong shopper group in south Texas with distribution to more than 225K households each week. The company also announced the acquisition of the Petersburg Progress-Index and said that these assets include one daily newspaper, The Petersburg Progress-Index, as well as a weekly publication, The Colonial Voice, in a growing market 25 miles south of Richmond, Virginia. The Petersburg Progress-Index has a Sunday circulation of approximately 12K and daily circulation of 9.8K.
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