New Media Announces Agreement to Acquire Morris Publishing Group Assets for $120.0 Million
NEW MEDIA INVESTMENT GROUP (NEWM)
Last new media investment group earnings: 10/26 06:50 am
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newmediainv.com
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- New Media Investment Group Inc. (“New Media” or the “Company”, NYSE:NEWM), one of the largest publishers of locally based print and online media in the United States as measured by number of publications, announced today that it has agreed to acquire many of the newspapers and related assets from Morris Publishing Group, LLC (“Morris”) for $120.0 million. New Media is acquiring many of the Morris portfolio of U.S.-based newspaper assets located across Georgia, Florida, Texas, Kansas, Arkansas, and Alaska. New Media is acquiring 79 publications including all eleven dailies, the largest of which are The Florida Times-Union (44,750 daily circulation and 68,591 Sunday circulation), The Augusta Chronicle (26,862 daily circulation and 31,682 Sunday circulation), and the Savannah Morning News (21,588 daily circulation and 26,048 Sunday circulation). In addition to the print publ
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