Carpenter Media Group has announced the completion of its acquisition of U.S. and Canadian publisher Black Press Media in a stock purchase together with Canadian financial partners Canso Investment Counsel Ltd. and Deans Knight Ltd.
Carpenter Media Group, Canso and Deans Knight will share ownership, and CMG will manage the companies.
Longtime Oahu Publications Inc. President and Publisher Dennis Francis has been named senior vice president for Carpenter Media Group and will continue his leadership of OPI.
Black Press Media had been restructuring since January under the Companies' Creditors Arrangement Act. Canso and Deans Knight have been longtime creditors of the company. BPM will remain under Canadian majority ownership in compliance with Canadian laws and regulations.
CMG is a leading community media company with operations in Texas, Louisiana, Mississippi, Tennessee, Georgia, North Carolina, Virginia and Kentucky.
Todd Carpenter of Natchez, Miss., is principal and chairman. Tim Prince of Mountain Brook, Ala., is CEO. CMG has offices in Natchez and Tuscaloosa, Ala., with key people working from various operations throughout the group.
BPM owns more than 150 newspapers and media operations in Western Canada, Washington and Hawaii, including the Honolulu Star-Advertiser, the sixth-largest U.S. daily newspaper by print circulation. Other assets include websites, lifestyle and tourism magazines, Amazon last-mile delivery franchises and the national tourism website Hawaii.com. BPM serves about 4.5 million print readers and 13 million digital readers daily.
Comments
No comments on this item Please log in to comment by clicking here