Monday, June 25, 2018

CNHI explores sale of newspapers in 22 states

Community Newspaper Holdings, Inc., one of the country’s largest owners of community newspapers, announced today that it may sell its newspaper properties in 22 states. "The announcement was made after its parent company, Raycom Media Inc., reported it has signed an agreement to be acquired by Gray Television group, a public company headquartered in Atlanta," CNHI staff reports.

CNHI owns more than 100 papers all over the country; Raycom, which owns or operates TV stations in 65 markets, bought the 20-year-old company nine months ago.

CNHI President and Chief Executive Donna Barrett cautioned that "we cannot say that any particular transaction will or will not take place," CNHI reports. "What we can say is that we will consider various options as we work to find a partner or partners that share our dedication to community newspapers and the vital journalism they produce to serve local audiences."

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