Gannett, the largest U.S. newspaper publisher, has sold six North Carolina newspapers. Paxton Media Group bought the following local entities from the McLean, VA based publisher:
- Lexington Dispatch
- Asheboro Courier-Tribune
- Burlington Times-News
- Kinston Free Press
- New Bern Sun Journal
- The Daily News of Jacksonville
Paxton Media Group is a 125-year-old family-owned media company headquartered in Paducah, Kentucky. The company owns more than 100 newspapers across the Midwest and Southeast. Its 10 North Carolina papers include The High Point Enterprise and Goldsboro News-Argus.
“We are excited to add these newspapers to our growing portfolio in North Carolina. PMG believes strongly in the value of local newspapers and the vital role they play in the communities that they serve. We appreciate being chosen to be the new stewards of these important community assets and intend to work hard to maintain the trust that these publications have earned over their long and storied history.”
Jamie Paxton, PMG president and CEO
In the past few years, Paxton has acquired properties in Georgia, Alabama, Tennessee and Indiana. Paxton currently operates several newspapers across North Carolina, including The Daily Dispatch (Henderson), The Sanford Herald, The Enquirer-Journal (Monroe), News-Topic (Lenoir), The Daily Courier (Forest City), The Daily Herald (Roanoke Rapids) and The High Point Enterprise. There also are several weekly newspapers in the division.
According to Sun Journal editor, Trevor Dunnell, Gannett met with staff members last week. The newspaper company “stressed that Paxton will be a good home for these North Carolina newspapers.” In particular, Gannett believes “Paxton understands markets of North Carolina’s size.”
Readers of the Sun Journal reacted on the paper’s Facebook page. Reader Mary Beth Simmelink wrote, “So looking forward to more local news and less political news! A welcome change.”
The Sun Journal was founded in 1876.
“News Cost Base Is Too High”
Bernie Szachara, who leads Gannett’s U.S. publishing operations, recently told Poynter:
“Our mission is to empower communities, and our decisions are driven by our commitment to best serve them. Having been approached by prospective buyers, we’ve carefully considered what was best for both our company and the community, and we’re pleased that in several situations, a local owner will continue to lead these brands into the future.”
Bernie Szachara, Gannett
Gannett’s News Division leader, Henry Faure Walker, reports that their “News cost base is currently too high for the revenues it generates.” Walker made his remarks in a memo to employees in which he announced “reductions” to be announced in early December. Furthermore, the executive says “reducing our workforce is not the preferred course of action.” However, Poynter reports about 200 employees will lose their jobs. Furthermore, this is in addition to the holiday furloughs and other cost cutting measures announced in October.
