The Santa Cruz Sentinel was acquired by California Newspapers Partnership, owned 54.23% by MediaNews. Gannett and SF Holding Corp. (Stephens), the remaining partners, contributed their share of the purchase price, and MediaNews funded its share of the purchase price from borrowings under its revolving credit agreement. This purchase was consummated today.
“We are delighted to acquire the Santa Cruz Sentinel and expand our reach in this very competitive region” said Dean Singleton, Chief Executive Officer of MediaNews. “The Santa Cruz Sentinel is a fine newspaper today but will be strengthened by the resources of our existing newspapers”, added Singleton.
"The Santa Cruz Sentinel is a good newspaper in a solid market with outstanding people," said Donna Barrett, President and CEO of CNHI. "Although we have enjoyed working with the staff, we believe the newspaper will be a better strategic fit with its new owner."
About MediaNews Group, Inc.
MediaNews is the nation’s fourth largest newspaper company, with headquarters in Denver, CO. MediaNews Group and its affiliated companies publish 56 daily newspapers and approximately 120 non-daily publications in 13 states with daily and Sunday circulation of approximately 2.6 million and 3.0 million, respectively. In addition, MediaNews Group owns a CBS affiliate in Anchorage, Alaska and four radio stations in Texas. MediaNews Group maintains web sites for all of its daily newspapers and an umbrella site, newschoice.com.
About Community Newspaper Holdings Inc.
CNHI, a privately-owned company, was founded in 1997, and has grown steadily to become one of the nation's largest publishers of community newspapers, Web sites and niche publications.