Adams Pub­lish­ing ac­quires NC group

Newspapers & Technology Magazine - - Indystry Mergers & Acquisitions -

Min­neapo­lis- based Adams Pub­lish­ing Group is ac­quir­ing a Mount Airy, North Carolina, group of publi­ca­tions and as­so­ci­ated web­sites from Cham­pion Me­dia, ef­fec­tive Novem­ber 1. News­pa­pers in­cluded in the sale are The Mount Airy News, the Surry Scene, The Tri­bune (Elkin), The Yad­kin Rip­ple, The Stokes News (King), The Pi­lot (Pi­lot Moun­tain) and the Jef­fer­son Post (West Jef­fer­son). Also in­cluded in the trans­ac­tion is The Car­roll News in Hillsville, Vir­ginia.

"We're very ex­cited to wel­come the Mount Airy Group and its as­so­ciates to our fam­ily of com­pa­nies," said APG Chair­man Stephen Adams.

Cham­pion Me­dia CEO Scott Cham­pion ex­pressed mixed emo­tions about his de­ci­sion to sell the prop­er­ties. "This is a great group of news­pa­pers and I've thor­oughly en­joyed work­ing with them. While the de­ci­sion to di­vest was very dif­fi­cult, it was driven mostly by my be­lief that they will have a very bright fu­ture with APG," Cham­pion said.

Cribb, Greene & Cope rep­re­sented Adams Pub­lish­ing Group in this trans­ac­tion. Terms of the deal were not dis­closed.

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