Article

2015-02-22 -Short Attention Span Theater-

Las Vegas Review-Journal parent company sold

[FOX5VEGAS] New York-based New Media Investment Group Inc. says it has reached an agreement to purchase the company that owns the Las Vegas Review-Journal and daily newspapers in six other states.
LVRJ was the home of Righthaven. It's not allowed on the Burg. It is one with the trolls.
New Media President and CEO Michael E. Reed said in a statement Thursday that they will purchase Stephens Media LLC's assets for $102.5 million cash.

New Media operates in more than 370 markets across 27 states, publishing 450 community publications.

Reed expects the deal to close in the first quarter of 2015. He says Stephens' publications have a strong community focus, solid readership base and stable advertisers,' with daily papers in Arkansas, Iowa, North Carolina, Oklahoma, Tennessee and Texas.

In Nevada, Stephens also owns the Pahrump Valley Times, Tonopah Times-Bonanza and Boulder City Review.

Posted by Fred 2015-02-22 00:00|| || Front Page|| [11138 views ] Top

#1 ...That seems like very little money for that many assets. Can't imagine why they'd be so devalued.

Mike

Posted by Mike Kozlowski 2015-02-22 06:44|| 2015-02-22 06:44|| Front Page Top

#2 Stephens is getting out of the newspaper business. He still will have co-ownership of several newspapers, but he's been working on developing a substantial internet presence.

Judging by the news releases, Stephens Media also had a close and comfy relationship with his financial management firm. It'd still be interesting to pick threads and see how RH was set up.

Posted by Pappy 2015-02-22 12:05|| 2015-02-22 12:05|| Front Page Top

#3 They went after Fred and Rantburg at the height of the craziness. Among other things, this is why as much as possible we use foreign sources even for domestic American stories.

Posted by trailing wife 2015-02-22 12:28|| 2015-02-22 12:28|| Front Page Top

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