Alden Global Capital's MediaNews Group has acquired Red Wing Publishing's print publications, websites and commercial printing operations.
Fifty-year-old family-owned Red Wing owns Big Fish Works and its three clusters across a fast-growing part of Minnesota - Crow River Media in the central part of the state, International Falls/North Star in the northeastern corner and Southwest News Media to the west of Minneapolis.
MediaNews Group operates the nearby St. Paul Pioneer Press.
M&A specialist Dirks, Van Essen, Murray & April represented Red Wing in the transaction, terms of which were not disclosed.
Big Fish operates 11 community newspapers, a digital marketing agency and two commercial printing facilities.
Big Fish chief executive Mark Poss told employees responding to constant evolution in the industry required expensive technology, resources and training. "A result of these changes has been, and continues to be, rapid consolidation," he said. "After careful consideration with our board and our family, we have decided that selling our assets to a larger news media company is the best way forward for us and for our staff members."
Alden is the third largest newspaper media company in the country through Digital First Media and MediaNews Group.
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