WACO, TX - June 22, 2012 - The Omaha World-Herald Company has agreed to acquire the Waco (TX) Tribune-Herald from the Robinson Family of Waco, Texas. No terms of the transaction were announced. The transaction is expected to close by July 31.
Dirks, Van Essen & Murray, a newspaper merger and acquisition firm in Santa Fe, New Mexico, represented the Robinson family in the transaction.
The Tribune-Herald is a 34,000 circulation daily and 39,000 Sunday newspaper serving the greater Waco area. It was acquired by the Robinson family in 2009.
“We’re delighted to have the Waco Tribune-Herald join our growing family of newspapers,” said Terry Kroeger, CEO of the Omaha World-Herald Company. “This is a very strong, growing market with terrific assets, including Baylor University and the new research park.
“We have enjoyed the opportunity to work with Clifton and Gordon Robinson on this transaction,” Kroeger said. “We look forward to an ongoing rapport with the Robinson family following the completion of the purchase of the Tribune-Herald.
“We will work with the local managers in Waco to determine what changes may be appropriate, and we look forward to the opportunity to work with the team at the newspaper.” Kroeger said.
Clifton Robinson, chairman of Robinson Media said, “The Robinson family endeavors to always engage in win-win situations, and this announcement will prove to be a premier shining example. The professionals at Omaha World-Herald, owned by Berkshire Hathaway, bring status and security to our community heretofore unimagined. We enjoyed our three year experience and comfortably return the local press to the experts, wishing continued success and good luck.”