Paxton Media Group has sold Southwest Iowa Publishing Company to Red Oak Publications. The deal includes two Iowa newspapers: the Red Oak Express and the Glenwood Opinion Tribune. Furthermore, this pair were part of what Paxton acquired from Landmark Community Newspapers earlier this year.
Dirks, Van Essen & April, a media merger and acquisition firm based in Santa Fe, New Mexico, represented Paxton Media Group in the transaction and reported the deal.
“PMG does not otherwise have a presence in Iowa and we prefer to focus on our current footprint. We felt the Iowa papers would be better served by an owner with closer geographic ties.”
Jamie Paxton, CEO of PMG
Red Oak Publications is owned by J. Louis Mullen who controls newspapers in seven states. Furthermore, Mullen is part of a second generation newspaper family and sits on the National Newspaper Association board.
“I’d like to thank Paxton Media Group for the opportunity to continue small community journalism and focus on the advancement of our industry. I’ve been lucky enough to find success in this market and wouldn’t pursue investments in our industry if I didn’t see a bright future.”
J. Louis Mullen
