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Ludington (MI) Daily News

The David Jackson Family has sold the Ludington Daily News, Oceana's Herald-Journal, and the White Lake Beacon to Community Media Group of West Frankfort, Illinois, according to John Cribb, Cribb, Greene & Associates, who represented the seller in the transaction. The sale's effective date is January 1, 2012.

The Ludington Daily News is a six-day daily newspaper with approximately 7,500 paid circulation, and the sale includes the weekly Herald-Journal and White Lake Beacon as well as a number of free and niche publications. The area served by the publications is on the western coast of Lake Michigan, in a region from Manistee to the north and Muskegon to the south. The transaction included several buildings and a web printing operation.

David Jackson, a member of the selling family, was quoted as saying, "They are newspaper people [referring to the purchaser Community Media Group]. They love the news business, and that's important to me. They are going to make changes, obviously, but they are committed to putting out good newspapers." Community Media Group owns and operates daily and weekly newspapers in five states including Michigan.

Cribb, Greene & Associates is an eighty-eight year old newspaper brokerage, consulting, and appraisal firm with offices in Bozeman, Montana and Charlottesville, Virginia.

Publishing Company Sales:

Our first emphasis is in representing our clients in the sale of their newspaper and publishing companies. We have sold thousands of publications including daily newspapers and weekly groups. Our clients tell us they feel we always hold their interests as our highest priority.

Publishing Company Acquisitions:

We also assist buyers in evaluating and negotiating the purchase of publishing companies, and include consultation on valuation, deal structure, and market analysis.

Cribb Strategic Acquisition Planning:

Cribb, Greene & Associates has developed a comprehensive Strategic Acquisition Plan process in which we evaluate our client’s publishing operations and help construct a sensible working strategy to grow through acquisition. The Plan includes detailed mapping of geographic target acquisitions and flexible financial modeling that will provide various opportunities of acquisition growth available to the client.

Publication Appraisal:

We provide forty to fifty formal appraisals of publication titles every year, for a variety of situations. Cribb, Greene appraisals are used for estate planning, loans, partnership, venture capital/financial backing, tax, Employee Stock Ownership Plan, shareholder value, minority ownership, and market value. Our appraisals consistently reflect accurate and current market values.

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