BIRMINGHAM, AL May 19, 2003 - Community Newspaper Holdings, Inc. (CNHI), a privately owned operator of daily and non-daily newspapers and specialty publications throughout the United States, has sold its publishing operations in 12 cities to Horizon Publications. Terms of the transaction were not disclosed.
Horizon will acquire CNHI's operations in Plymouth, Indiana; Broken Bow, Nebraska; Antlers, Guymon and Poteau, Oklahoma; Kane, Punxsutawney, Ridgway and St. Mary's, Pennsylvania; and Big Spring, Borger and Sweetwater, Texas.
Dirks, Van Essen & Murray, a newspaper merger-and-acquisition firm in Santa Fe, New Mexico, represented CNHI in the transaction.
In announcing the sale, CNHI president and CEO Mike Reed stated, "We have determined that the primary focus of CNHI as it moves forward will be to concentrate on the operation of daily newspapers with circulation of 20,000 or more. We are fortunate that these papers, while no longer strategic to CNHI, fit nicely with Horizon's plans. I am certain that the fine people at these locations working with Horizon management will bring even better future service to these communities."
CNHI operates 96 daily newspapers with over 1 million daily circulation as well as 63 non-daily and 161 specialty publications in 20 states.