GateHouse buying Sherman Publishing
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.