Boone Newsmedia, Inc. (BNI) and Carpenter Media Group (CMG) are pleased to announce the future ownership of eight local media companies that the two companies had jointly owned.
In a series of transactions effective June 1, CMG acquired BNI’s interests in the following affiliates:
Bainbridge (Ga.) Media, publisher of The Post-Searchlight
Brookhaven (Miss.) Newsmedia, publisher of The Daily Leader
Elizabethton (Tenn.) Newsmedia, publisher of the Elizabethton Star
Frankfort (Ky.) Newsmedia, publisher of The State Journal
Oxford (Miss.) Newsmedia, publisher of The Oxford Eagle
Tryon (N.C.) Newsmedia, publisher of the Daily Bulletin
BNI acquired CMG’s interest in the following affiliates:
Tidewater (Va.) Publications, publisher of The Tidewater News
Washington (N.C.) Newsmedia, publisher of the Washington Daily News
In addition, CMG acquired the Ironton (Ohio) Tribune and related print and digital publications from BNI.
Terms of the deal were not disclosed.
“We are pleased to be at this stage in the orderly transition of BNI and CMG to separate media companies after many years of shared management and ownership,” said Steve Stewart, president and chief executive officer of BNI. “While BNI is sad to depart as owner in a number of communities served, we are pleased that those newspapers will be owned by Carpenter Media Group, a company we deeply respect. Both companies live out the values our friend and mentor taught us, the late Jim Boone: serving our communities with excellent journalism and effective marketing solutions and employing the best and brightest to fulfill those important obligations.”
“I echo Steve’s comments and look forward to next steps in serving these readers, businesses and communities,” said CMG’s chairman, Todd Carpenter. It has been a highlight of my career to visit and get to know each community and work to serve each community with Jim Boone and the excellent Boone Newsmedia team. What we are doing now is a natural progression of a long-planned commitment to these institutions and the communities we serve. We will miss our association with The Washington Daily News and The Tidewater News, but we know those places are better because of good journalism done over a long period and will continue to improve as BNI leads them forward.”