Owner Of 4 Massachusetts Papers To Merge

Story by Dave Copeland, Patch Staff

NORTH ANDOVER, MA — Community Newspaper Holding Inc., which owns the Eagle-Tribune in North Andover and the Salem Evening News, is merging with Raycom Media Inc. to form a privately-held company. Financial terms of the deal, which was announced Monday and is expected to close on Sept. 29, were not disclosed.

In addition to four Massachusetts newspapers and their Websites, Montgomery, Ala.-based Community Newspaper owns more than 110 newspapers 22 states. Community Newspaper was 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. Community Newspaper also owns The Gloucester Daily Times and The Daily News of Newburyport in Massachusetts. The Eagle-Tribune had daily circulation of 35,397 in 2012, while the Salem Evening News had a circulation of 20,295.

"Quality local journalism is the foundation of Raycom Media and CNHI," Pat LaPlatney, president and CEO of Raycom Media, said in a statement released Monday. "This transaction will strengthen both organizations’ local content-generation efforts, as well as monetization capabilities, while positioning the combined entity for future growth and superior service to our clients and audience."

Community Newspaper will be run as a unit of Raycom Media. Raycom, also of Montgomery, Ala., owns 65 television and two radio stations and operates media companies in 20 states. It has about 4,800 employees. In 2009, the most recent year for which figures are available, Community Newspaper had 6,500 employees and annual revenue of $520 million.

"This marks an important milestone in our history as we combine two award-winning media organizations with the common mission of delivering quality local news and information across print, broadcast and digital platforms," Donna Barrett, president and CEO of Community Newspaper, said in a statement.

To comply with Federal Communications Commission rules, Raycom will sell Community Newspaper publications in the seven places where it already owns television or radio stations.

Photo by Joanna Poe via Flickr