American Consolidated Media, Inc. (“ACM”) of Dallas, Texas, announced today that it has purchased the assets of Valley Media, Ltd., the publisher of local shopper and community newspaper publications serving the Rio Grande Valley and Laredo, and the assets of Publisher Services, Inc., the operating entity that provides printing and distribution services for these publications. John Cribb, Cribb & Associates, represented the seller in the transaction.
The name of the new entity for the combined operations of the publications and the printing and distribution facility will be Valley Newspapers Holdings, LP (“Valley”). The purchase price for the transaction was not disclosed.
The local shopper and community newspaper publications acquired are Bargain Book (with four editions serving Brownsville, Los Fresnos-Port Isabel-San Benito, Harlingen and Laredo), Valley Town Crier serving the McAllen area, Rio Grande Valley Business and Winter Texan. Valley’s publications reach over 265,000 individual households on a weekly basis.
In conjunction with this transaction, Jack L. Wilson Jr. has been promoted to the position of Vice President and General Manager at Valley Newspapers Holdings. Wilson will continue in his current role as manager of the McAllen office.
In addition, the managers at all other locations will continue in their current positions including Roger W. McKnight in Brownsville, Donald R. Wright in Harlingen, John H. Adcock in Laredo and Craig J. Virnig at the production and distribution facility in McAllen.
“Since their founding in 1978, Valley Media and Publisher Services have provided a high quality, consistent level of service and value to the readers and advertisers in the Rio Grande Valley and in Laredo,” stated Jeremy L. Halbreich, chairman of the board, president and CEO of ACM.
“These publications and the service they provide their respective communities represent a great testimony to the founder and seller, F.M. (“Mike”) McKinney, and his talented staff of dedicated employees,” he added.
Cribb & Associates, a newspaper brokerage, appraisal and consulting firm based in Bozeman, Montana, represented the seller in the transaction.
ACM, directly and through its affiliates, owns and operates daily newspapers in Alice, Brownwood, Stephenville and Waxahachie, Texas and in Miami, Oklahoma as well as weekly publications in Bonham, Midlothian, Ennis, Red Oak, Italy, Alvarado, Erath County, Ballinger, Winters, Marble Falls, Burnet, Kingsland, Llano, Hearne, Franklin, Calvert, Robertson County, Orange Grove, Premont, Kingsville and Freer, Texas and Picher, Oklahoma.