New Media Investment Group Inc. to purchase Halifax Media Group
For the second time in quick succession the Worcester Telegram & Gazette is going to go into new hands as its parent Halifax Media Group is being bought by New Media Investment Group Inc. (GateHouse Media)
On Thursday, New Media based in New York announced that it will buy Halifax which is headquartered in Florida. The deal will be for $280 million cash. New Media Investment Group Inc., which is the parent of Daily Press and the Desert Dispatch, will purchase almost all of the assets of Halifax Media Group through the agreement.
The Halifax group owns and operates 36 newspapers and associated websites and has a focus in the southeast in Alabama, Louisiana, Florida, North Carolina and South Carolina. The group's Worcester Telegram and Gazette, strengthens the presence of GateHouse Media in the northeast.
Michael Reed, CEO of New Media said, it was "an exciting day for our company." The deal is likely to conclude sometime early in the coming year.
James Normandin, the publisher of The Telegram & Gazette says he is looking forward to the fresh opportunities which will come along with the new ownership. He says that the paper will continue to maintain its centre of attention to the wide-ranging local news coverage.
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