CNHI Acquires Muskogee (OK) Daily Phoenix
BIRMINGHAM, AL, MAY 1, 2006 - Community Newspaper Holdings Inc. announced today that it has acquired the Muskogee (OK) Daily Phoenix from the Gannett Foundation. Terms of the transaction were not disclosed.
Dirks, Van Essen & Murray, a newspaper merger-and-acquisition firm based in Santa Fe, New Mexico, represented the sellers in the transaction.
A 15,961 circulation daily newspaper, the Daily Phoenix is located about 50 miles southeast of Tulsa. CNHI owns 15 daily newspapers, as well as several non-daily publications, throughout Oklahoma.
“The Daily Phoenix is an outstanding community newspaper, and because it is situated near so many of our other Oklahoma markets, it’s an excellent fit that greatly strengthens our presence,” said CNHI CEO Donna Barrett. “We’re excited to become a part of the Muskogee community, and we look forward to having the Daily Phoenix employees join our team.”
In February, the Daily Phoenix was awarded the 2005 Oklahoma Press Association Better Newspaper Contest’s top honor in the competition’s largest class for overall excellence in editorial and advertising content. CNHI has owned properties in Oklahoma since its start in 1997. The independent, privately owned company is based in Birmingham, Alabama, and operates 89 daily newspapers and more than 200 non-daily publications in 21 states.
For further information contact Philip Murray or James Oldershaw at Dirks, Van Essen & Murray, (phone) 505-820-2700, (fax) 505-820-2900, or visit our website at www.dirksvanessen.com.