Adams Publishing buying Florida’s Sun Coast Media
Adams Publishing Group announced June 18 that it’s buying Sun Coast Media Group, based in Venice, Florida, including SCMG's publications located on the west coast of Florida, according to Gary Greene and Randy Cope of merger and acquisition rm Cribb, Greene & Cope.
Terms of the deal weren’t disclosed.
Sun Coast Media Group newspapers to be included in the sale are e Venice Gondolier, e Arcadian, e West Villages Sun, e Englewood Sun, e North Port Sun, e Charlotte Sun and e Charlotte Sun Times.
Sun Coast Media Group is a family- and-employee-owned company founded by Derek Dunn-Rankin in 1976.
CEO David Dunn-Rankin announced the sale to employees by saying, “After 42 years of family ownership, the Dunn-Rankin family has regretfully decided that the time has come to entrust Sun Coast Media Group to another family.”
“We are extremely excited to have the Sun Coast Media Group and its Associates join the Adams Publishing Group family,” said APG principal Stephen Adams.
In a related transaction, David Dunn-Rankin is purchasing the daily Highlands News Sun and Polk County newspapers from Sun Coast Media Group, along with the Florida-based concerts business SunEvents.com.
is will be APG's rst newspaper acquisition in Florida and will continue community-oriented family ownership for the SCMG newspapers. e only other family-owned newspapers remaining in Florida are the Key West Citizen and the Villages Daily Sun.
Cribb, Greene and Cope represented Sun Coast Media Group in this transaction.