Hearst Acquires Print and Digital Assets of Two Dailies in Illinois
New York, NY - August 31, 2017 - Hearst today announced that it has acquired the Alton (IL) Telegraph and Jacksonville (IL) Journal-Courier from Civitas Media. The acquisition strengthens Hearst Newspapers’ commitment to covering news in Illinois communities, adding to the reporting done by the Edwardsville (IL) Intelligencer.
Dirks, Van Essen & Murray, a media merger and acquisition firm based in Santa Fe, New Mexico, represented Civitas Media in the transaction.
The announcement was made by Hearst President and CEO Steven R. Swartz and Hearst Newspapers President Mark Aldam. Financial terms were not disclosed. Civitas, headquartered in Davidson, North Carolina, is a portfolio company of Philadelphia-based private equity investment firm Versa Capital Management, LLC (“Versa”).
With the addition of the Illinois dailies, the Hearst Newspapers’ stable of news properties includes 24 dailies and 64 weeklies across the U.S., in addition to one news magazine and several digital businesses.
“We are excited to strengthen our commitment to quality journalism in the local communities of southern Illinois,” Aldam said. “Combined with our Edwardsville Intelligencer media assets, the additions of The Telegraph and Journal-Courier will enable us to upgrade our enterprise reporting across the region while serving advertisers with the most comprehensive media solutions.”
Known as the oldest continuously published newspaper in Illinois, the Journal-Courier was founded in 1830 in Jacksonville. The Telegraph was established in 1836 in Alton, Illinois. Together, the newspapers have a circulation of more than 30,000 in the southwestern Illinois region. Hearst’s commitment to providing local news coverage in Illinois began with the 1979 acquisition of the Edwardsville Intelligencer.
Jeff Bergin, Hearst Newspapers vice president of vertical strategy development, will oversee business and news operations for the acquired properties.
Hearst is one of the nation's largest diversified media, information and services companies with more than 360 businesses. Its major interests include ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; majority ownership of global ratings agency Fitch Group; Hearst Health, a group of medical information and services businesses; 30 television stations such as WCVB-TV in Boston and KCRA-TV in Sacramento, Calif., which reach a combined 19 percent of U.S. viewers; newspapers such as the Houston Chronicle, San Francisco Chronicle and Albany Times Union, nearly 300 magazines around the world including Cosmopolitan, ELLE, Harper's BAZAAR and Car and Driver; digital services businesses such as iCrossing and KUBRA; and investments in emerging digital and video companies such as BuzzFeed, Vice, Complex Networks and AwesomenessTV. Follow us on Twitter @HearstLive and @Hearst, and subscribe to Hearstlink.
About Hearst Newspapers
Hearst Newspapers is the operating group responsible for Hearst’s newspapers, local digital marketing services businesses and directories. With more than 4,000 employees across the nation, Hearst Newspapers publishes 24 dailies and 64 weeklies, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union. It also operates digital marketing services and directories businesses under the LocalEdge brand.