Reid Newspapers acquired three Oklahoma newspapers from Gannett. They include: the Miami News-Record, the Grove Grand Lake News, and The Delaware County Journal. Dirks, Van Essen & April, a media merger and acquisition firm, made the announcement today. But financial details were not shared as part of the announcement.
Reid Newspapers is described as a “second-generation, family owned newspaper company.” Reid owns seven other newspapers on Oklahoma. The company is led by Philip Reid, president and CEO. Continuing the family theme, his wife serves as CFO and co-owner.
Current employees of the newspapers were offered continued employment with the transition.
“We run a family operation. Our goal is to work alongside leaders in the community to help grow and celebrate the towns we serve. Our doors are always open to new ideas and directions for the newspapers,” Reid said.
Dirks, Van Essen & April reports that Gannett “unloaded” BridgeTower Media, a B2B play, in November 2020 to Transom Capital Group. The firm also reports that Gannett sold the weekly Nantucket Inquirer and Mirror and its property to 41 North Media, a local group of investors. Interestingly, the Inquirer and Mirror first published in 1821, making it one of the oldest newspapers in the country.
