Elkhart, IN - May 2, 2016 - Paxton Media Group announced Monday that it has acquired the 14,700-circulation daily Elkhart (IN) Truth from the Dille family.
Dirks, Van Essen & Murray, a merger and acquisition firm based in Santa Fe, New Mexico, represented the Dille family in the sale. Terms of the deal were not disclosed.
Paxton Media, a family-owned company headquartered in Paducah, Kentucky, owns more than 30 daily newspapers, including 10 in Indiana and one in Southwest Michigan.
"We are gratified for the opportunity to assume stewardship of The Elkhart Truth," said David Paxton, president and chief executive officer of Paxton Media Group. "It is an award-winning newspaper with a proud history of serving Elkhart County."
Paxton said the newspaper will be in a better position to serve readers and advertisers by combining its strengths with those of other Paxton newspapers.
"Elkhart residents have come to expect quality journalism from The Elkhart Truth’s many media platforms, and this business combination provides the financial security needed to assure the newspaper will continue to serve the community long into the future," Paxton said.
The Indiana papers in Paxton Media Group include The La Porte County Herald-Argus and the Michigan City News-Dispatch in Northwest Indiana. Paxton also publishes The Herald-Palladium in St. Joseph, Michigan.
The Elkhart Truth was founded in 1889 by the owner of a musical instrument manufacturer. John F. Dille Jr. began running the newspaper in 1952 and eventually bought out the owners.
The family also owns 15 AM and FM radio stations in Fort Wayne, South Bend and Warsaw, Indiana. The newspaper was managed by the family’s organization Federated Media, which also runs the radio group.
For more information contact Phil Murray at Dirks, Van Essen & Murray at 505-820-2700.