`

Schurz Communications selling its newspapers, including eight in Indiana

January 28, 2019

Media company Schurz Communications Inc. announced an agreement Monday to sell all 20 of its newspapers, including eight papers in Indiana.

Mishawaka, Indiana-based Schurz said it planned to sell its publishing division to Pittsford, New York-based GateHouse Media Inc. Financial terms of the deal, which is expected to close in the first quarter, were not disclosed.

The sale includes The Reporter Times in Martinsville, The Mooresville-Decatur Times in Mooresville, the Herald Times in Bloomington and the South Bend Tribune.

The Times-Mail in Bedford, the Notre Dame Insider in South Bend, The Evening World in Spencer and the Hoosier Topics also are part of the sale.

The other publications involved in the deal are in Michigan, Maryland, Pennsylvania and South Dakota.

Schurz said it would continue to own and invest in its cloud services, managed IT services and broadband operations. The company has acquired four broadband companies in recent years and is in the process of buying a fifth.

Schurz sold its TV and radio stations to Atlanta-based Gray Television Inc. in 2016 for about $440 million. That deal included at least 16 TV stations and 13 radio stations, including nine radio stations in Indiana and WSBT-TV Channel 22, the CBS affiliate in South Bend.

“This a natural next step forward in our evolution as a company given our mission to help solve challenges by linking people, businesses and communities,” Schurz CEO Todd Schurz said in written comments. “We will continue to explore the types of investments that support our commitment to technology and anticipate adding new employees to our team and new companies to our portfolio in the near future.”

GateHouse Media is a holding company for New Media Investment Group, which publishes 145 daily newspapers, 684 community publications and more than 550 local-market websites in 38 states.

ADVERTISEMENT
Comments powered by Disqus