Owner Of Eagle-Tribune, Salem News Is Up For Sale

NORTH ANDOVER, MA -- Raycon Media said Monday it would sell CNHI LLC, which owns several newspapers in Massachusetts, including the Salem News and the North Andover-based Eagle-Tribune. Raycon previously agreed to be acquired by Atlanta based Gray Television for $3.65 billion. The sale of CNHI is part of that deal.

"We’re excited to open the next chapter in our commitment to top-flight community journalism," CNHI CEO Donna Barrett said in a statement. "We are looking for a transaction or transactions that will carry on CNHI’s rich tradition of public service through award-winning journalism."

Raycon acquired CNHI in September. CNHI was once known as Community Newspaper Holdings Inc. and owns more than 110 newspapers in 22 states. Its other Massachusetts holdings include the Gloucester Daily Times and the The Daily News of Newburyport.

Community Newspaper formed in 1997 and has grown with a series of acquisitions. It purchased the Eagle-Tribune in 2005, ending more than 100 years of local, family ownership

The Eagle-Tribune had purchased the Salem Evening News in 2002 for $70 million. The Eagle-Tribune had daily circulation of 35,397 in 2012, while the Salem News had a circulation of 20,295.

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Dave Copeland can be reached at dave.copeland@patch.com or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).