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The Daily Record sold to New Media Investment Group

The parent company of The Daily Record has been sold.

New Media Investment Group Inc. announced today it had acquired the business information unit of Dolan LLC and its 39 print and online publications, which include The Daily Record. New Media is the parent of GateHouse Media LLC, a Pittsford, N.Y.-based publisher with operations in 32 states.

In a letter to Daily Record and Dolan employees, Kirk Davis, GateHouse CEO and New Media COO, said the acquisition was a good fit because of GateHouse’s similar focus on local and regional markets in the newspapers it operates.

“We are committed to investing in our organization and have recently made substantial, reader-driven enhancements to our local news products, both print and digital,” Davis said. “We look forward to partnering with you to build upon the great franchises you have developed and to sharing our best thinking across markets.”

The Daily Record’s roots go back to 1888. It provides legal, business and government coverage to readers across Maryland through its five-times-a-week newspaper, website and special publications.

“The Daily Record has been providing essential, local business and legal news and information to Maryland professionals for 127 years,” Daily Record Publisher Suzanne Fischer-Huettner said. “We are proud of our history and excited to start our next chapter with New Media Investment Group.  Our team will stay true to our mission, readers and the community we serve.  New Media has a long and successful history and will be able to provide resources to help us achieve our goals and bring new products and offerings to our readers.”

For 106 years, The Daily Record was owned by the Warfield family, which in 1994 sold the publication to Dolan Media. In 2014 what by then was The Dolan Company entered a pre-packaged debt reorganization from which it emerged under the ownership of Bayside Capital Inc., a private investment company.

Under Bayside’s ownership, Dolan operates 39 print and online publications for the legal, financial, real estate, and government affairs sectors in the 17 markets it serves across the U.S. Dolan also develops, organizes, and produces events centered on awards and education seminars.

Davis said he expects the sale to close in several weeks, subject to customary closing conditions.

GateHouse had filed for bankruptcy protection in 2013. The papers of the post-bankruptcy GateHouse as well as some additional assets eventually were combined in a new public company, New Media.

New Media operates 125 daily publications in more than 490 markets across 32 states. It also has 575 community publications and more than 490 related websites. Its publications include the Providence Journal of Providence, Rhode Island; the Rockford Register Star of Rockford, Illinois; and the Dover Post of Dover, Delaware.

 

 

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