Copley Press Acquires The Beach Reporter and Palos Verdes Peninsula News
TORRANCE, CA, September 8, 2003 - The Copley Press, Inc. announced today that it had acquired National Media, Inc., publishers of The Beach Reporter and Palos Verdes Peninsula News. Combined, the two newspapers reach 62,000 households in the affluent beach communities south of Los Angeles. Copley publishes the 75,000-circulation Torrance (CA) Daily Breeze in these and adjacent cities. No terms of the transaction were announced.
Dirks, Van Essen & Murray, a newspaper merger-and-acquisition firm based in Santa Fe, NM, represented National Media in the transaction.
Arthur E. Wible, Jr., publisher of the Daily Breeze, said, “This is an important strategic acquisition for us. These are two of the finest weekly newspapers in California and they are leaders in some of the most desirable communities in the South Bay. Our roots are deep here and we are the logical company to take these leading newspapers to the next level of excellence. Readers, advertisers and the community will all benefit as a result of this ownership change.”
Stephen C. Laxineta, president of National Media, Inc., said, “We believe that considerable synergy can be realized with the combination of the Daily Breeze, the Beach Reporter and the Palos Verdes Peninsula News. I expect this new alliance to bring considerable benefit to the employees and advertisers as well as the communities they reach. I will always be grateful that I had the opportunity for the past eight years to work with the exceptional group of people at the Beach Reporter and PV News who produced such fine community newspapers.” Laxineta, who just completed his term as president of the California Newspaper Publishers Association, said he is looking forward to taking some time off from his business pursuits.
Copley Press owns nine daily newspapers with total circulation of more than 700,000, 10 weeklies and one bi-weekly in addition to Copley News Service, which has more than 1,500 clients throughout the United States.
For further information contact Owen Van Essen at Dirks, Van Essen & Murray, phone 505/820-2700, fax 505/820-2900.