Monroe Evening News sold to NYC group

http://www.toledoblade.com/business/2015/09/24/Monroe-News-acquired-by-New-York-based-New-Media.html

The employee-owned Monroe News has been acquired by New York-based New Media Investment Group, Inc. for $5.2 million, the companies announced today.

Monroe News, a 14,000-circulation afternoon daily and 21,000-circulation Sunday newspaper, traces its history back to 1825 and is believed to be the oldest continuously operated newspaper in Michigan.

The newspaper was owned by the Gray family from 1927 to 1994, when the family began the process to sell the company to employees.

http://www.newmediainv.com

is focused primarily on investing in a high quality, diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses.

We are one of the largest publishers of locally based print and online media in the United States as measured by number of daily publications. We operate in over 415 markets across 31 states.

Our portfolio of products, which includes 490 community publications, over 415 related websites, and six yellow page directories, serves more than 175,000 business advertising accounts and reaches approximately 19 million people on a weekly basis.

Our print and online products focus on the local community from both a content and advertising standpoint. As a result of our focus on small and midsize markets, we are usually the primary, and sometimes the sole, provider of comprehensive and in-depth local market news and information in the communities we serve.

More than 84% of our daily newspapers have been published for more than 100 years and 100% have been published for more than 50 years.

#michigan #monroe #media #business #history