CNHI look­ing to sell news­pa­per op­er­a­tions

Newspapers & Technology Magazine - - Mergers & Acquisitions -

CNHI is ex­plor­ing the sale of its news­pa­per prop­er­ties in 22 states, the com­pany says.

e an­nounce­ment came on the heels of the news that Par­ent com­pany Ray­com Me­dia has signed an agree­ment to be ac­quired by At­lanta-based Gray Tele­vi­sion group.

Mont­gomery, Alabama-based CNHI has more than 100 papers around the coun­try. Ray­com Me­dia, which owns or op­er­ates tele­vi­sion sta­tions in 65 mar­kets, ac­quired CNHI nine months ago.

CNHI CEO Donna Bar­rett said the com­pany has re­tained the news­pa­per bro­ker­age rm of Dirks, Van Essen, Mur­ray and April to han­dle the sale of its news­pa­pers.

“We’re ex­cited to open the next chap­ter in our com­mit­ment to top- ight com­mu­nity jour­nal­ism,” said Bar­rett. “We are look­ing for a trans­ac­tion or trans­ac­tions that will carry on CNHI’s rich tra­di­tion of pub­lic ser­vice through award-win­ning jour­nal­ism.”

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