Tuesday, September 26, 2017

Raycom Media and CNHI announce merger

"Two media organizations that own dozens of newspapers and television stations across the nation are announcing a merger," The Associated Press reports. Raycom Media Inc. and Community Newspaper Holdings Inc. are merging into a new privately owned media group, CNHI said in a press release.

CNHI will be a Raycom subsidiary. The merger will result in one of the nation's largest privately owned media groups, CNHI said. "Raycom’s stations cover more than 16 percent of U.S. television households. Most of its stations in are in southern states, but it also owns stations in Ohio and Indiana and as far west as Honolulu, Hawaii," the AP reports.

CNHI is one of the largest owners of community newspapers in the U.S. "Among CNHI’s largest newspapers: The Eagle-Tribune of North Andover, Mass.; The Joplin Globe in Missouri; and The Tribune-Democrat of Johnstown, Pa.," AP reports.

After the merger, if Raycom stations overlap with CNHI newspaper territory, the newspapers will be sold to a third party. The companies expect to complete the merger Friday, Sept. 29.

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