HARRISON, Ark. — Phillips Media Group announced today that they have entered into an agreement to acquire five publications from Gannett Co., Inc. The transaction is scheduled to close on Sept. 1.
Dirks, Van Essen & April, a media merger and acquisition firm based in Santa Fe, N.M., represented Gannett in the transaction. Terms of the transaction were not disclosed.
The five publications include the Baxter Bulletin in Mountain Home, Ark., and four in Missouri: The Big Nickel in Joplin, the Rolla Daily News, the Kirksville Daily Express, and the NEMO Trader in La Plata. These publications are all located within the general footprint of other Phillips Media Group properties.
“We are excited to bring these publications into our group," said Jim Holland, president of Phillips Media Group. "We believe we have the expertise to effectively operate publications in these markets, putting out products that will be valued by the respective communities.”
He went on to say that he appreciated the confidence that Gannett has shown by selling these newspapers to Phillips Media Group and entrusting the stewardship of these publications to a company that has a large presence in the region.
Phillips Media Group acquired The Herald-Whig in Quincy, Ill., and The Hannibal Courier-Post earlier this year. With the addition of these five papers from Gannett, the company publishes 17 publications in Arkansas, Missouri, and Illinois. The company also operates Springfield, Missouri-based Nowata Printing Company.