CNHI, LLC one of the country's leading providers of local news and
information said on Monday, June 25 it is exploring the sale of its
newspaper properties in 22 states. The Wayne County Outlook is one of
the newspapers owned by CNHI.
The announcement was made after its parent company, Raycom Media,
Inc., reported it signed an agreement to be acquired by Gray
Television group, a public company headquartered in Atlanta.
Donna Barrett, CNHI's president and chief executive officer, said
the company has retained the newspaper brokerage firm of Dirks, Van
Essen, Murray and April to handle the sale of its newspapers.
"We're excited to open the next chapter in our commitment to top-
flight community journalism," said Barrett. "We are looking for a
transaction or transactions that will carry on CNHI's rich tradition
to public service through award-winning journalism."
CNHI is a 20-year-old newspaper company that has grown from a few
community newspapers at the outset to more than 100 papers today.
They are located in the midwest, southeast, southwest and northeast.
Raycom Media Inc., which owns or operates television stations in 65
markets, acquired CNHI nine months ago.
"As we undertake this exploration process we cannot say that any
particular transaction will or will not take place," said Barrett.
"What we can say is that we will consider various options as we work
to find a partner or partners that share our dedication to community
newspapers and the vital journalism they produce to serve local audiences."