Gate­House buying Sher­man Pub­lish­ing

Newspapers & Technology Magazine - - Indystry Mergers & Acquisitions -

Gate­House Me­dia is buying the Ed­ward A. Sher­man Pub­lish­ing Com­pany, a fam­ily busi­ness based in New­port, Rhode Is­land. Terms of the deal, which is sched­uled to be fi­nal­ized on Nov. 1, have not been dis­closed, The New­port Daily News re­ported.

The sale in­cludes The New­port Daily News, The In­de­pen­dent, New­port Life Mag­a­zine, South County Life Mag­a­zine and Mer­cury, among other publi­ca­tions, and Sher­man Pub­lish­ing's com­mer­cial print­ing di­vi­sion. No changes in staffing or pro­duc­tion sched­ules have been an­nounced.

“To­day is one of the sad­dest days of my life, a day I have al­ways hoped would never come, when I must tell you all that the Sher­man fam­ily has de­cided that we must sell the papers,” Al­bert K. “Buck” Sher­man Jr., re­tired pub­lisher of The Daily News and pres­i­dent of Sher­man Pub­lish­ing's board of di­rec­tors, said when an­nounc­ing the sale to the com­pany's em­ploy­ees.

“I have a deep re­spect for the Sher­man fam­ily and all they have done to serve the com­mu­ni­ties in New­port and South coun­ties with their news­pa­pers and mag­a­zines,” said Kirk Davis, CEO of Gate­House Me­dia

Gate­House Me­dia pub­lishes 125 daily news­pa­pers and more than 600 com­mu­nity publi­ca­tions in 38 states.

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