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	<title>Cribb, Greene &#38; Associates</title>
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		<title>Vicksburg, Mississippi daily Post sold to Boone Newspapers</title>
		<link>http://www.cribb.com/index.php/vicksburg-mississippi-daily-post-sold-to-boone-newspapers/</link>
		<comments>http://www.cribb.com/index.php/vicksburg-mississippi-daily-post-sold-to-boone-newspapers/#comments</comments>
		<pubDate>Sat, 04 May 2013 02:02:41 +0000</pubDate>
		<dc:creator>cga-admin</dc:creator>
				<category><![CDATA[Industry News]]></category>
		<category><![CDATA[Press Releases]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1286</guid>
		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Vicksburg-Post_MS_Cashman.jpg"></a>The Vicksburg Post daily newspaper and related real estate has been sold by Pat and Barbara Cashman to an affiliate of Boone Newspapers, Inc., according to John Cribb, Cribb, Greene &#38; Associates, who represented ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Vicksburg-Post_MS_Cashman.jpg"><img class=" wp-image-1287 alignright" alt="Vicksburg Post" src="http://www.cribb.com/wp-content/uploads/Vicksburg-Post_MS_Cashman-150x280.jpg" width="120" height="224" /></a>The Vicksburg Post daily newspaper and related real estate has been sold by Pat and Barbara Cashman to an affiliate of Boone Newspapers, Inc., according to <strong>John Cribb, Cribb, Greene &amp; Associates, who represented the Cashmans in the transaction.</strong></p>
<p>The Post is an 11,000 paid circulation newspaper that is published seven days each week.  It was started by John Cashman in 1883 and has been in the Cashman family for 130 years.  Included in the transaction were the newspaper office and press building, and an additional building in a separate location.</p>
<p>Boone Newspapers, Inc. owns and manages 44 newspapers, 26 community magazines and related websites in similar-sized communities in Mississippi, Alabama, Georgia, North Carolina, Virginia, Minnesota, Ohio and Michigan, including The Natchez (Miss.) Democrat.</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class=" wp-image-294 alignleft" style="margin-left: 5px; margin-right: 5px;" alt="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" width="48" height="47" /></a>Cribb, Greene &amp; Associates is a ninety year old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia.</strong></p>
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		<title>Florida Sun group purchased by Lakeway Publishers</title>
		<link>http://www.cribb.com/index.php/florida-sun-group-purchased-by-lakeway-publishers/</link>
		<comments>http://www.cribb.com/index.php/florida-sun-group-purchased-by-lakeway-publishers/#comments</comments>
		<pubDate>Fri, 03 May 2013 01:31:04 +0000</pubDate>
		<dc:creator>cga-admin</dc:creator>
				<category><![CDATA[Industry News]]></category>
		<category><![CDATA[Press Releases]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1281</guid>
		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/OSCEOLA-NEWS-GAZETTE-FRONT-PAGE.jpg"></a></p>
<p>Lakeway Publishers of Florida, Inc. and Independent Publications, Inc. jointly announced the acquisition and sale of Sun Publications of Florida, Inc., according to Gary Greene, Cribb, Greene &#38; Associates who represented IPI in the ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/OSCEOLA-NEWS-GAZETTE-FRONT-PAGE.jpg"><img class="size-medium wp-image-1282 alignright" alt="Osceola News-Gazette" src="http://www.cribb.com/wp-content/uploads/OSCEOLA-NEWS-GAZETTE-FRONT-PAGE-150x264.jpg" width="150" height="264" /></a></p>
<p>Lakeway Publishers of Florida, Inc. and Independent Publications, Inc. jointly announced the acquisition and sale of Sun Publications of Florida, Inc., according to <strong>Gary Greene, Cribb, Greene &amp; Associates who represented IPI in the transaction.</strong></p>
<p>Sun Publications has owned and published newspapers and shoppers in the central Florida area for ten years.  Newspapers or shoppers included in the transaction are the Osceola News-Gazette in Kissimmee, Clermont News Leader, Four Corners News Leader, The Triangle News Leader, The Sumter Shopper and the Pasco Shopper.</p>
<p>Lakeway Publishers, Inc. publishes newspapers, magazines, and specialty publications in Tennessee, Missouri and Virginia.  R. Jack Fishman, president of Lakeway said, &#8220;We are pleased that IPI selected our company to continue the traditions of community journalism in these communities.  We believe people are what matter and we feel that the excellent staff at each of the properties is committed to this cause.&#8221;</p>
<p>Dennis Wilkinson, Vice President of Sun Publications said, &#8220;We are excited about being a part of Lakeway Publishers.  We look forward to growing and expanding under the Lakeway Group.&#8221;</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class=" wp-image-294 alignleft" style="margin-left: 5px; margin-right: 5px;" alt="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" width="48" height="47" /></a>Cribb, Greene &amp; Associates is a ninety year old newspaper brokerage, appraisal and consulting firm with offices in Charlottesville, Virginia and Bozeman, Montana.</strong></p>
<p>&nbsp;</p>
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		<title>Jewish News of Phoenix changes hands</title>
		<link>http://www.cribb.com/index.php/jewish-news-of-phoenix-changes-hands/</link>
		<comments>http://www.cribb.com/index.php/jewish-news-of-phoenix-changes-hands/#comments</comments>
		<pubDate>Fri, 26 Apr 2013 00:34:34 +0000</pubDate>
		<dc:creator>cga-admin</dc:creator>
				<category><![CDATA[Press Releases]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1275</guid>
		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Phoenix-Jewish-News.jpg"></a>The Eckstein and Stern families jointly announced that Jewish News of Greater Phoenix, the annual Community Directory and jewishaz.com has new ownership, according to John Cribb, Cribb, Greene &#38; Associates, who provided valuation and transaction ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Phoenix-Jewish-News.jpg"><img class="size-medium wp-image-1276 alignright" style="margin-left: 5px; margin-right: 5px;" alt="Phoenix Jewish News" src="http://www.cribb.com/wp-content/uploads/Phoenix-Jewish-News-150x75.jpg" width="150" height="75" /></a>The Eckstein and Stern families jointly announced that Jewish News of Greater Phoenix, the annual Community Directory and jewishaz.com has new ownership, according to <strong>John Cribb, Cribb, Greene &amp; Associates, who provided valuation and transaction structure advice to the Stern Family.</strong></p>
<p><a href="http://www.cribb.com/wp-content/uploads/Phoenix-Jewish-News_Jaime-Stern.jpg"><img class=" wp-image-1277 alignright" style="margin-left: 5px; margin-right: 5px;" alt="Jaime Stern" src="http://www.cribb.com/wp-content/uploads/Phoenix-Jewish-News_Jaime-Stern-150x223.jpg" width="90" height="134" /></a>Jaime and Jeff Stern bought the media company from Florence and Paul Eckstein, with Jaime Stern becoming the new publisher and Florence Eckstein becoming publisher emeritus, working in the office as a consultant to the publisher through the transition period.</p>
<p>&#8220;Our ideal buyer profile was a young local couple representing the next generation with very strong business experience to lead the company forward,&#8221; Florence Eckstein said. She and Jaime Stern wrote: &#8220;The sale represents the transfer of the reins of our weekly newspaper, website and community directory from a family of longtime owners ready to retire to a young, energetic family representing the next generation of readers.&#8221;</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class=" wp-image-294 alignleft" style="margin-left: 5px; margin-right: 5px;" alt="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" width="42" height="41" /></a>Cribb, Greene &amp; Associates is a ninety year old newspaper brokerage and consulting firm with offices in Bozeman, Montana and Charlottesvile, Viriginia.</strong></p>
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		<title>Independent Publications sells the Nashua, New Hampshire daily Telegraph and Cabinet newspaper group</title>
		<link>http://www.cribb.com/index.php/ogden-group-to-buy-telegraph/</link>
		<comments>http://www.cribb.com/index.php/ogden-group-to-buy-telegraph/#comments</comments>
		<pubDate>Wed, 10 Apr 2013 01:11:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Industry News]]></category>
		<category><![CDATA[Press Releases]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1265</guid>
		<description><![CDATA[<p>HUDSON – An agreement has been reached for The Ogden Newspapers Inc., a family-owned company with 40 daily newspapers in 12 states, to become the new owner of The Telegraph, Publisher Terrence L. Williams announced ...]]></description>
				<content:encoded><![CDATA[<p>HUDSON – An agreement has been reached for The Ogden Newspapers Inc., a family-owned company with 40 daily newspapers in 12 states, to become the new owner of The Telegraph, Publisher Terrence L. Williams announced Monday.</p>
<p>Independent Publications Inc., which has owned The Telegraph since 1977, announced in late December that it would sell the daily newspaper and its associated weeklies and websites.</p>
<p>Williams introduced Robert M. Nutting, president and chief executive officer of Ogden Newspapers, to Telegraph employees Monday afternoon.</p>
<p>“My family is proud to become the successor publisher of The Telegraph,” Nutting said. “We are committed to continuing the proud history of a paper which has dutifully served its community for 181 years. We look forward to taking The Telegraph into the future, and continue its award-winning tradition.”</p>
<p>Nutting, who is the incoming chairman of the Newspaper Association of America, said acquiring The Telegraph is an indication of his family’s continued commitment to the newspaper industry.</p>
<p>“The Telegraph will continue to be the best source of news and information in the greater Nashua area,” Nutting said. “When you combine The Telegraph’s readership, in print and online, it clearly reaches more people than any other media outlet in the region. It will continue to be the best connection to the communities it serves and deliver real value to the readership.”</p>
<p>Included in the sale are the Cabinet newspapers, The Cabinet of Milford, Merrimack Journal, Bedford Journal and the Hollis Brookline Journal. Websites included in the transaction are nashuatelegraph.com, nh.com, and thelobbynh.com.</p>
<p>The ownership change will take place April 22, Williams said.</p>
<p>“This is a new, exciting chapter for The Telegraph,” he said Monday. “The Nutting family and the Ogden company are clearly committed to newspapers. They are enthusiastic and passionate about the purpose of newspapers and believe steadfastly in the core principles of what we do.”</p>
<p>Ogden Newspapers was founded in 1890 when H.C. Ogden first published a newspaper in Wheeling, W.Va.</p>
<p>After acquiring several newspapers in West Virginia, in the 1960s the company began acquiring properties in other states.</p>
<p>Today Ogden Newspapers also has holdings in Ohio, Pennsylvania, Michigan, Minnesota, Indiana, Iowa, North Dakota, Florida, Hawaii, New York, Virginia and now New Hampshire.</p>
<p>Robert Nutting and his brother William represent the fourth generation to manage the newspaper group. William O. Nutting is currently a member of the board of directors of The Associated Press and is the past president of the Southern Newspaper Publishers Association.</p>
<p>The Telegraph dates back to 1832. It has been published as a daily newspaper since 1869.</p>
<p>Independent Publications Inc., led by the McLean family of Bryn Mawr, Pa., has owned The Telegraph for more than three decades. The company acquired 100 percent of the stock in the Telegraph Publishing Co. in 1977, purchasing the paper from several prominent families.</p>
<p>“When I announced to staff the decision by the McLean family in December to sell its holdings, I mentioned the difficulty of that choice,” Williams said. “I can only imagine how hard it was, given that Independent Publications Inc. has been around for more than 100 years.</p>
<p>“I do know this much: the family would want the paper to pass to a family-run operation; they would want The Telegraph to continue to be operated by a newspaper company; and they would most want to put The Telegraph into highly capable and successful hands. That has certainly happened.”</p>
<p>In 2005, Independent Publications purchased the Cabinet Press Inc. of Milford, publisher of four weekly newspapers, including The Cabinet, which was established in 1803.</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft  wp-image-294" style="margin-left: 5px; margin-right: 5px;" alt="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" width="60" height="59" /></a>Cribb, Greene &amp; Associates, a ninety year old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia, represented Independent Publications Inc. in the transaction.</strong></p>
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		<title>DuBois, PA daily and area weeklies sold</title>
		<link>http://www.cribb.com/index.php/tioga-publishing-buys-newspapers/</link>
		<comments>http://www.cribb.com/index.php/tioga-publishing-buys-newspapers/#comments</comments>
		<pubDate>Wed, 06 Mar 2013 03:08:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Industry News]]></category>
		<category><![CDATA[Press Releases]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1249</guid>
		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/newspapers.jpg"></a>The sale was completed March 4, 2013, of the McLean Publishing interests in three newspapers and their related publications and digital websites serving the DuBois, Brookville and New Bethlehem areas to Tioga Publishing Company, ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/newspapers.jpg"><img class=" wp-image-1250 alignright" alt="McLean Publishing" src="http://www.cribb.com/wp-content/uploads/newspapers-450x329.jpg" width="288" height="210" /></a>The sale was completed March 4, 2013, of the McLean Publishing interests in three newspapers and their related publications and digital websites serving the DuBois, Brookville and New Bethlehem areas to Tioga Publishing Company, a division of Community Media Group, West Frankfort, Ill., <strong>according to Cribb, Greene &amp; Associates who represented Independent Publications in the transaction.  </strong>The newspapers include The Courier-Express, DuBois; the Value Guide shopper; the weekly Tri-County Sunday; the Jeffersonian Democrat at Brookville; and The Leader-Vindicator at New Bethlehem.</p>
<p>The newspapers had been owned and operated by Independent Publications located at Bryn Mawr, Pa., a company controlled by the McLean family, longtime Pennsylvania publishers of newspapers, monthly and quarterly magazines and other publications, dating back to 1895.  McLean Publishing operated the Courier-Express since 1988.  The Jeffersonian Democrat was purchased in 1990.  The company founded the Tri-County Sunday publication in 1993 and acquired the New Bethlehem Leader-Vindicator in 1998.  The McLean family made the decision to exit the publishing business last year and are in the process of liquidating various related assets.</p>
<p>Community Media Group operates daily and weekly newspapers, shoppers, magazines and digital websites located in several states, including Pennsylvania, New York, Indiana, Illinois, Michigan and Iowa.  The company&#8217;s related publishing operations in Pennsylvania include newspapers and shoppers at Bradford, Port Allegany, Coudersport, Westfield, Wellsboro and Mansfield.  The company also publishes quarterly Community Health Magazines in Pittsburgh and the surrounding region.</p>
<p>Andrew T. Bickford, president and chief executive officer of Independent Publications, said, &#8220;after many years of serving the readers and advertisers in the DuBois area, we are pleased to pass the torch to a media company that has an established presence in and commitment to the region.&#8221;</p>
<p>Larry J. Perrotto, chairman and chief executive officer of Community Media Group, said, &#8220;we are most pleased to have this opportunity to serve the west central Pennsylvania region and the communities of DuBois, Brookville and New Bethlehem.  We pledge to be strong advocates for the interests of the region and we are committed to continue the great tradition of high quality journalism so ably established by the McLean family and Independent Publication&#8217;s President, Andrew Bickford.&#8221;</p>
<p>Perrotto also announced, that longtime Pennsylvania newspaper executive, Joseph C. Piccirillo, of Ridgway has accepted the appointment of Group Executive for the three newspapers.</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft  wp-image-294" style="margin-left: 5px; margin-right: 5px;" alt="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" width="42" height="41" /></a>Cribb, Greene &amp; Associates is a ninety year old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia.</strong></p>
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		<title>Jackson Hole, WY</title>
		<link>http://www.cribb.com/index.php/jackson-hole-wy-2/</link>
		<comments>http://www.cribb.com/index.php/jackson-hole-wy-2/#comments</comments>
		<pubDate>Thu, 10 Jan 2013 00:58:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Industry News]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1233</guid>
		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Jackson-Hole-News-and-Guide1.jpg"></a>Jackson Hole News&#38;Guide principal owner Michael Sellett will sell the newspaper company to Chief Operating Officer Kevin Olson and his wife Shelley, according to John Cribb, Cribb, Greene &#38; Associates, who provided transaction, structure ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Jackson-Hole-News-and-Guide1.jpg"><img class="alignright size-medium wp-image-1232" title="Jackson Hole News and Guide" src="http://www.cribb.com/wp-content/uploads/Jackson-Hole-News-and-Guide1-150x46.jpg" alt="" width="150" height="46" /></a>Jackson Hole News&amp;Guide principal owner Michael Sellett will sell the newspaper company to Chief Operating Officer Kevin Olson and his wife Shelley, according to <strong>John Cribb, Cribb, Greene &amp; Associates, </strong>who provided transaction, structure and valuation advice to the parties.</p>
<p>Kevin Olson made the announcement Tuesday in the News&amp;Guide offices, saying a purchase agreement had been signed for an undisclosed sum.</p>
<p>Teton Media Works will be the new company that will take over operation of the weekly paper, the Jackson Hole Daily, Jackson Hole and Images West magazines and associated websites and partnerships.</p>
<p>Completion of the deal at the end of 2012 will bring to a close an era in which Sellett took the Jackson Hole News to national prominence.  Along the way, he sparked a classic small-town newspaper war with Jackson Hole Guide, all eagerly absorbed by valley folk.</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft  wp-image-294" title="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" alt="Cribb, Greene &amp; Associates" width="49" height="48" /></a>Cribb, Greene &amp; Associates is a ninety-year old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia.</strong></p>
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		<title>Newspaper market improving</title>
		<link>http://www.cribb.com/index.php/newspaper-market-improving/</link>
		<comments>http://www.cribb.com/index.php/newspaper-market-improving/#comments</comments>
		<pubDate>Fri, 28 Dec 2012 01:28:41 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Industry News]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1208</guid>
		<description><![CDATA[<p>Small newspapers bring higher multiples</p>
<p>Newspaper merger and acquisition activity in 2012 improved considerably over the prior year and 2013 appears to be starting out on solid footing as well.  Newspaper sales by larger groups and ...]]></description>
				<content:encoded><![CDATA[<p><span style="text-decoration: underline;">Small newspapers bring higher multiples</span></p>
<p>Newspaper merger and acquisition activity in 2012 improved considerably over the prior year and 2013 appears to be starting out on solid footing as well.  Newspaper sales by larger groups and groups controlled by financial owners tended to stay in the low EBITDA multiple ranges of 3.5x to 4.5x, however mid and small market newspapers generally brought higher valuations.</p>
<p>There seems to be two reasons why the small papers are bringing higher prices, the first being that mid and small market newspapers are doing better financially.  The fall-off in revenues for these papers has been in the 15% to 20% range over the recession years, rather than the up-to-50% that has stricken larger operations, and these small properties have stabilized more quickly.</p>
<p>Second is the use of seller financing as a tool for the transaction structure in smaller deals.  Cribb, Greene &amp; Associates has recently sold several properties at 5x-6x EBITDA on a cash-sale basis, and has closed some transactions at up to 8x with seller financing.</p>
<p>Most conventional bank financing for newspaper transactions is in the 2x to 2.25x EBITDA range currently, leaving buyers to come up with the balance of the purchase price in out of pocket cash.  There are some local/regional banks who have been willing to loan more, and CG&amp;A completed one example with a 4x EBITDA bank loan.</p>
<p><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft size-full wp-image-294" style="margin-left: 5px; margin-right: 5px;" title="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" alt="Cribb, Greene &amp; Associates" width="100" height="98" /></a>Although &#8220;conventional wisdom&#8221; may still be that newspapers are a sunset industry, it appears that those inside the industry have realized there is &#8211; and will continue to be &#8211; a niche for strong local information (news and advertising) providers.  Berkshire-Hathaway&#8217;s entrance into the industry in 2012 helps substantiate this thought.  Newspapers continue to be the only professional local information gathering sources, and quality local information continues to have value.</p>
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		<title>Jackson Hole, WY</title>
		<link>http://www.cribb.com/index.php/jackson-hole-wy/</link>
		<comments>http://www.cribb.com/index.php/jackson-hole-wy/#comments</comments>
		<pubDate>Thu, 20 Dec 2012 02:01:13 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Press Releases]]></category>

		<guid isPermaLink="false">http://www.cribb.com/?p=1185</guid>
		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Jackson-Hole-News-and-Guide.jpg"></a>Jackson Hole News&#38;Guide principal owner Michael Sellett will sell the newspaper company to Chief Operating Officer Kevin Olson and his wife Shelley, according to John Cribb, Cribb, Greene &#38; Associates, who provided transaction, structure ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Jackson-Hole-News-and-Guide.jpg"><img class="alignright size-medium wp-image-1186" title="Jackson Hole News and Guide" src="http://www.cribb.com/wp-content/uploads/Jackson-Hole-News-and-Guide-150x46.jpg" alt="" width="150" height="46" /></a>Jackson Hole News&amp;Guide principal owner Michael Sellett will sell the newspaper company to Chief Operating Officer Kevin Olson and his wife Shelley, <strong>according to John Cribb, Cribb, Greene &amp; Associates, who provided transaction, structure and valuation advice to the parties.</strong></p>
<p>Kevin Olson made the announcement Tuesday in the News&amp;Guide offices, saying a purchase agreement had been signed for an undisclosed sum.</p>
<p>Teton Media Works will be the new company that will take over operation of the weekly paper, the Jackson Hole Daily, Jackson Hole and Images West magazines and associated websites and partnerships.</p>
<p>Completion of the deal at the end of the year will bring to a close an era in which Sellett took the Jackson Hole News to national prominence.  Along the way, he sparked a classic small-town newspaper war with the Jackson Hole Guide, all eagerly absorbed by valley folk.</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft  wp-image-294" style="margin-left: 5px; margin-right: 5px;" title="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" alt="Cribb, Greene &amp; Associates" width="60" height="59" /></a>Cribb, Greene &amp; Associates is a ninety-year-old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia.</strong></p>
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		<title>Columbia, SC</title>
		<link>http://www.cribb.com/index.php/columbia-sc/</link>
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		<pubDate>Wed, 19 Dec 2012 04:44:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Industry News]]></category>
		<category><![CDATA[Press Releases]]></category>

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		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Columbia-SC-Free-Times.jpg"></a>Free Times, the weekly newspaper in Columbia, SC, has a new owner.</p>
<p>Portico Media SC of Charlottesville, VA, has sold the publication, its websites and auxiliary publications to Resorts Media LLC, a new company formed ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/Columbia-SC-Free-Times.jpg"><img class="alignright size-medium wp-image-1177" title="Columbia (SC) Free Times" src="http://www.cribb.com/wp-content/uploads/Columbia-SC-Free-Times-150x47.jpg" alt="" width="150" height="47" /></a>Free Times, the weekly newspaper in Columbia, SC, has a new owner.</p>
<p>Portico Media SC of Charlottesville, VA, has sold the publication, its websites and auxiliary publications to Resorts Media LLC, a new company formed and owned by Charlie Nutt, a 40-year veteran of the news industry, <strong>according to Gary Greene, Cribb, Greene &amp; Associates, who represented Portico in the transaction.</strong></p>
<p>Founded in 1987 as an alternative weekly, Free Times has been owned by Portico since 2004.</p>
<p>Nutt described Free Times as &#8220;a very good newspaper with a strong staff.&#8221;  He said he hopes to build on that strength and also expand the company&#8217;s digital offerings.</p>
<p>Bill Chapman, chairman of Portico Media SC, said, &#8220;It feels good to be putting the Free Times back in the hands of a Columbia-based owner.  I feel we did some great things there but are now turning our attention back to our Virginia publications.  Our staff, readers and customers are in good hands with Charlie.&#8221;</p>
<p>All current Free Times employees will be offered jobs with Resorts Media.  Nutt will move to Columbia and take over the vacant position of publisher of Free Times.</p>
<p>For the past two years Nutt has run a newspaper consulting business, Annlo Communications LLC, based in New Jersey.  Prior to that he spent 36 years with the Gannett Co.  During his career he served as publisher of two Gannett daily newspapers and editor of three, in addition to overseeing websites and several weekly publications.</p>
<p><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft  wp-image-294" style="margin-left: 5px; margin-right: 5px;" title="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" alt="Cribb, Greene &amp; Associates" width="70" height="69" /></a>Terms of the Free Times transaction, which was finalized on December 18, were not disclosed.  <strong>Cribb, Greene &amp; Associates is a ninety-year-old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia.</strong></p>
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		<title>Brookhaven, MS</title>
		<link>http://www.cribb.com/index.php/brookhaven-ms/</link>
		<comments>http://www.cribb.com/index.php/brookhaven-ms/#comments</comments>
		<pubDate>Thu, 06 Dec 2012 02:33:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Industry News]]></category>
		<category><![CDATA[Press Releases]]></category>

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		<description><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/DLSundayFP.jpg"></a>Brookhaven Newsmedia, LLC, an affiliate of Boone Newspapers, Inc. (BNI), with offices in Natchez, Mississippi, and Tuscaloosa, Alabama, completed its purchase of The Daily Leader, The Prentiss Headlight, related websites and affiliated publications on ...]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.cribb.com/wp-content/uploads/DLSundayFP.jpg"><img class="size-medium wp-image-1169 alignright" title="The Daily Leader" src="http://www.cribb.com/wp-content/uploads/DLSundayFP-150x296.jpg" alt="" width="150" height="296" /></a>Brookhaven Newsmedia, LLC, an affiliate of Boone Newspapers, Inc. (BNI), with offices in Natchez, Mississippi, and Tuscaloosa, Alabama, completed its purchase of The Daily Leader, The Prentiss Headlight, related websites and affiliated publications on Friday, <strong>according to</strong> <strong>John Cribb, Cribb, Greene &amp; Associates, who represented the seller in the transaction.</strong></p>
<p>The sale ends more than 50 years of ownership and operation of The Daily Leader for the Brookhaven community by the Jacobs family.  Charles R. Jacobs purchased the newspaper from Dalton Brady in 1958.  Bill and Amy Jacobs acquired The Prentiss Headlight in 1985, then purchased the Daily Leader from his family in 1995.</p>
<p>Jacobs is succeeded as publisher of The Daily Leader and The Prentiss Headlight by Rick Reynolds who formerly headed Granite Publications, a group of community newspapers in Texas.  In addition to his Brookhaven and Prentiss duties, Reynolds also becomes a vice president of BNI and will have group management responsibilities relating to other BNI operations.  Prior to Granite, Reynolds worked with BNI as a vice president and as president and publisher of its newspaper in Troy, Alabama.  He met Daily Leader and Headlight employees Tuesday and begins work immediately.  Reynolds&#8217; wife, Patti, will soon join him in Brookhaven.  They have two grown children, Brian and Kinsey, both of whom live in Tuscaloosa, Alabama.</p>
<p><a href="http://www.cribb.com/wp-content/uploads/PrentissHLfp.jpg"><img class="alignright size-medium wp-image-1170" title="The Prentiss Headlight" src="http://www.cribb.com/wp-content/uploads/PrentissHLfp-150x296.jpg" alt="" width="150" height="296" /></a>Majority owners of the newly formed company are BNI and Carpenter Media, LLC (CML), a company owned by BNI&#8217;s president and chief operating officer, Todd H. Carpenter of Natchez.  Reynolds and other BNI key personnel hold minority ownership.</p>
<p>BNI owns and manages 44 newspapers, 26 community magazines and related websites in similar-sized communities in Mississippi, Alabama, Georgia, North Carolina, Virginia, Minnesota, Ohio and Michigan, including The Natchez (Miss.) Democrat.  James B. Boone Jr. of Tuscaloosa, is BNI&#8217;s chairman and chief executive officer.</p>
<p>BNI has a rich history of quality newspapers and other publications in the communities it serves, explained in part by Boone&#8217;s corporate philosophy:  &#8220;We seek to produce the highest quality product the economics of the community served can support.  And then, by ingenuity and imagination, we strive for a higher quality in an effort to serve and build that community.&#8221;</p>
<p>Carpenter said he is &#8220;deeply appreciate of the confidence Bill Jacobs and his family have placed in us as their successors, and we will work hard to merit that confidence.  Our friendship with Bill and his family goes back many years and during that time we have developed a deep respect for how Bill leads his operation and his community.  Our hope is to build on the strong foundations put down by the Jacobs and quality people who work with him at the newspapers.&#8221;</p>
<p>&#8220;We are pleased Rick Reynolds has joined us as president and publisher.  His steady leadership and knowledge of community newspapers will be important to us and to our employees during the transition and thereafter,&#8221; Carpenter said.  &#8220;Rick and Patti will be an asset to the community and to any organizations in which they participate.  All will work hard to meet our every obligation to readers, customers, employees and all who have a stake in the newspapers and their future.&#8221;</p>
<p><strong><a href="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg"><img class="alignleft  wp-image-294" style="margin-left: 5px; margin-right: 5px;" title="Cribb, Greene &amp; Associates" src="http://www.cribb.com/wp-content/uploads/cribb-greene-logo-e1334276871807.jpg" alt="Cribb, Greene &amp; Associates" width="56" height="56" /></a>Cribb, Greene &amp; Associates is a ninety-year old newspaper brokerage, appraisal and consulting firm with offices in Bozeman, Montana and Charlottesville, Virginia.  </strong>Contact information: <a href="mailto:jcribb@cribb.com">jcribb@cribb.com</a>; 406-586-6621.</p>
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