The run of US newspaper sales is continuing into the New Year, with Dirks, Van Essen & Murray reporting the sale of the Roanoke Rapids, North Carolina, Daily Herald to Paxton Media.
The family-owned company headquartered in Paducah, Kentucky, now owns more than 35 daily newspapers, a TV station and numerous weekly publications across Arkansas, Georgia, Indiana, Illinois, Kentucky, Louisiana, Michigan, Mississippi, North Carolina and Tennessee, and is managed by fourth and fifth-generation family members.
Media M&A firm Dirks, Van Essen & Murray represented vendors Wick Communications in the transaction.
The Daily Herald will join other Paxton publications in its NC/TN/GA division, managed by group publisher Rick Bean. That group includes ten other dailies, six of which are in North Carolina.
Paxton vice president Jamie Paxton says the Herald will be in a better position to serve readers and advertisers by combining its strengths with those of other Paxton newspapers in the area. "This business combination provides the financial security needed to assure the newspaper will continue to serve the community long into the future," he said.