McClatchy acquires The (Durham, NC) Herald-Sun from Paxton Media Group
SACRAMENTO, Calif., Dec. 21, 2016 /PRNewswire/ -- McClatchy (NYSE:MNI) today announced it has acquired the assets and operations of The (Durham, NC) Herald-Sun, including related digital assets, from the Paducah, Kentucky-based Paxton Media Group, which has owned the publication since 2004. Terms of the deal were not disclosed.
"The Herald-Sun and its predecessor publications have been serving Durham since 1889," Paxton Media Group's president and CEO David Paxton said. "We believe this transaction strengthens the newspaper and assures that it will continue to serve the community for many years to come. We are confident McClatchy will carry forward The Herald-Sun's legacy and mission of service to the community of Durham. McClatchy is committed to providing top-notch journalism to the Carolinas. We also want to thank all employees for their contributions to the community and newspaper during our ownership.
"Paxton Media Group has been publishing newspapers since 1896. Like McClatchy, we believe newspapers, in print and digital forms, have a vital role to play in their communities, and we remain committed to the business." Paxton Media Group will continue to operate newspapers in more than 50 communities after this transaction.
Sacramento, California-based McClatchy is a leading provider of digital and print news and information in cities across the country, including several markets in the Carolinas. In addition to owning The News & Observer in nearby Raleigh, it also owns The Charlotte Observer and several papers in South Carolina: The State, in Columbia, The Island Packet, in Hilton Head, The Beaufort Gazette; The Sun News in Myrtle Beach; and The Herald, in Rock Hill.
"We're grateful to Paxton Media Group for choosing McClatchy when it decided to sell. To be entrusted with the journalistic legacy of The Herald-Sun is a privilege," said McClatchy president and CEO, Pat Talamantes, "We look forward to serving The Herald-Sun's readers and customers well."
Sara Glines, president and publisher of The News & Observer, will oversee its operations. Glines noted, "We are excited to be able to expand our print and digital presence in the Raleigh-Durham area. We'll give our utmost focus and attention to The Herald-Sun's customers and continue to be a strong partner in the community."
Durham is a vibrant and dynamic community offering residents and visitors access to top universities and schools, healthcare, outdoor experiences and events, and a wide array of cultural activities. In April of 2016, Livability ranked it one of the Top 100 Best Places to Live in the United States.
About McClatchy
McClatchy is a 21st century news and information leader, publisher of iconic brands such as the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, and the (Fort Worth) Star-Telegram. McClatchy operates media companies in 28 U.S. markets in 14 states, providing each of its communities with high-quality news and advertising services in a wide array of digital and print formats. McClatchy is headquartered in Sacramento, Calif., and listed on the New York Stock Exchange under the symbol MNI.
About Paxton
Paxton Media Group is a family owned media company founded in 1896. The company is owned and managed by fourth- and fifth-generation family members and operates daily and non-daily publications and related digital products in more than 50 markets in ten Midwestern and Southern states. The company also owns a television station, WPSD, the NBC affiliate in Paducah, Kentucky, and a radio station.
SOURCE McClatchy
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