Times-Journal gets News Publishing in $3.05M deal
Marietta, Ga.-based Times-Journal Inc. won a bid to purchase News Publishing Co. for $3.05 million in an auction reviewed by Judge Mary Grace Diehl. The deal includes all of the Georgia assets of News Publishing Co. — the daily Rome News-Tribune, and weeklies including the Calhoun Times, Walker County Messenger, the Catoosa County News and the Polk County Standard Journal.
The purchase also includes Cherokee Publishing Co., which publishes the Cherokee County Herald in Centre, Ala., and is a wholly owned subsidiary of News Publishing.
News Publishing filed for Chapter 11 reorganization on Jan. 1, 2013, which protected it from creditor lawsuits. The auction and approval were the final steps in the process.
The Feb. 1 issue of the Rome News-Tribune was the first published by new owners.
“If readers will be patient with us, I think they’ll like the changes they’ll see,” said Otis Crumby III, publisher of Times-Journal. “Bottom line — it’s going to be improved local coverage. That’s really going to be where the focus of our changes are going to be.”