Weybret Family Sells Lodi News-Sentinel
Lodi, CA - May 28, 2015 - The Weybret family today announced the sale of the Lodi News-Sentinel to a new corporation, Central Valley News-Sentinel Inc, led by veteran newspaper publisher Steven Malkowich. The new owners have newspaper assets in the United States and Canada, including several in California.
Dirks, Van Essen & Murray, a merger and acquisition firm based in Santa Fe, New Mexico, represented the Weybrets in the sale. Terms of the transaction were not disclosed. The effective date of the sale will be June 1, 2015.
“Now is the time for the Weybrets to make way for others with greater resources than ours,” said publisher Marty Weybret. He shared ownership with his father, Fred Weybret, and brother, Jim Weybret. “General Manager Theresa Larson and Editor Rich Hanner are well equipped to handle this transition. Central Valley News Sentinel leaders may put a publisher in place to direct them, but Rich and Theresa will assure continued local accountability for Lodi’s main news source.”
Founded in 1881, the News-Sentinel has a rich history of providing news and information to Lodi and nearby communities. Fred Weybret purchased the newspaper in 1959, served as publisher for many years, and continued to serve as chairman until the sale. In 1998, Marty Weybret assumed the duties of publisher.
The News-Sentinel publishes five days a week and has a daily circulation of 10,600.
“A family newspaper has to find family successors or find a new owner. Both my sons and both Jim’s daughters are well launched on careers outside of the news media,” said Weybret. “As parents, we are proud to see our children focused and successful. However, the situation leaves the Lodi News-Sentinel without a succession plan. Steven Malkowich and his investors have a track record of commitment to local community newspapers. He has been professional and considerate of me and my family throughout this negotiation. The News-Sentinel now has the financial support to stay alive and thrive.”
Under the sales agreement, a Weybret-owned company will continue to manage the newspaper building at 125 N. Church St. in downtown Lodi.
For more information contact Dirks, Van Essen & Murray at 505-820-2700.