October – December 2025Back to News
DV&A tracked the sale of 27 newspaper titles across nine transactions in the fourth quarter of 2025.
Newspaper M&A activity in the fourth quarter of 2025 remained steady and highly selective, with deal flow driven primarily by local and regional ownership transitions rather than large-scale acquisitions. The quarter reflected a market centered on stewardship, operational fit, and long-term sustainability.
Q4 activity was dominated by family-owned companies, multi-generation operators, and individual owner-publishers, while larger chains continued to divest non-core and smaller-market assets. Consolidation occurred largely at the county and regional level, often through targeted clustering or merger-driven combinations designed to preserve coverage and improve efficiency. Across transactions, buyers and sellers consistently emphasized legacy, continuity, and community alignment—underscoring that cultural fit remained a critical factor in newspaper M&A as 2025 came to a close.
October
Fulton County News sold to Sample News Group
The Fulton County News has been acquired by Tuscarora Media, part of the larger Sample News Group based in Huntingdon, Pennsylvania.
Founded in 1891, the Fulton County News has served as a source of local news, public notices, and community reporting for generations. John W. Greathead purchased the newspaper in 1947, and following his death in 1958, his wife, Audrey P. Greathead, assumed the role of editor and publisher. She led the paper for more than four decades before entering joint ownership with her son, Jamie S. Greathead, in 1971. The newspaper hads remained in the Greathead family for more than 78 years.
Tuscarora Media, based in Shippensburg, Pennsylvania, publishes the Shippensburg News-Chronicle, Newville Valley Star Times, Mercersburg Journal, Chambersburg Chronicle, and now the Fulton County News. Sample News Group owns more than 75 publications across Pennsylvania, New York, New Jersey, and Vermont.
Stevenson family sells sold four Wyoming and Nebraska newspapers to Adelman family
The Stevenson family has sold four newspapers—the Sidney (NE) Sun-Telegraph, Saratoga (WY) Sun, Pine Bluffs (WY) Post, and Western Nebraska Observer—to the Adelman family and Blazing Trails Media, LLC.
Gary and Sue Stevenson acquired the Saratoga Sun in 1994 in partnership with Loren “Teense” Wilford and his wife, Sandy, and subsequently expanded their ownership across several states. Matt and Lisa Adelman, the buyers, operate multiple newspapers and related printing operations through 5Aces Printing LLC, with family members actively involved in daily operations.
Nelson Media Company acquires Mitchell County Press News
Nelson Media Company acquired the Mitchell County Press News in Osage, Iowa, from Lee Enterprises.
Owner Chris Nelson announced that the publication will undergo a full transformation and rebranding as The Osage Oracle, celebrating Osage’s identity, tradition, and future. Nelson Media Company owns seven weekly newspapers, a summer collegiate baseball team in Indiana, and operates a video production and marketing agency.
O’Rourke Media Group acquires Gunnison Countryexpands in Colorado
O’Rourke Media Group acquired the Gunnison Country Times, the Gunnison Country Shopper, and several niche publications in Colorado from owners Alan Wartes and Issa Forrest.
The Gunnison Country Times was established in 1975 through the merger of three local newspapers—the Gunnison News, Gunnison Champion, and Gunnison County Star—with a lineage tracing back 145 years.
O’Rourke Media Group is a family-owned, diversified media company formed in 2018 and operates across eight states, encompassing 40 markets with more than 58 publications and hyperlocal websites.
November
Louis Mullen acquired News Printing Company
Louis Mullen acquired News Printing Company (NPC) in central Iowa from Shaw Media. The transaction includes the Newton News, Jasper County Tribune, PCM Explorer, and Jasper County Advertiser.
The Newton News, founded in 1902 as the Newton Daily News, publishes two print editions per week along with an e-edition. NPC’s portfolio also includes weekly newspapers and a total-market-coverage shopper serving local residents and businesses.
Mullen, a second-generation newspaper owner, now owns more than 40 newspapers across seven states and serves on the board of the National Newspaper Association.
Citizen Media Group acquired Philadelphia magazine
Citizen Media Group, a newly formed nonprofit, has acquired Philadelphia magazine.
Larry Platt, CEO and president of Citizen Media Group and co-founder of The Philadelphia Citizen, previously served as editor of Philadelphia magazine. The organization plans to operate the two brands as distinct but complementary publications serving the city and region.
Employee purchases two Florida weeklies
Writescoop LLC, a newly formed Apalachicola-based company, acquired The Apalachicola Times and The Port St. Joe Star from Neves Media.
Owner David Adlerstein has served as editor of The Apalachicola Times since January 2002 and most recently as editor of The Port St. Joe Star under Neves Media ownership. Adlerstein said he plans to form a volunteer community advisory panel made up of readers from Franklin and Gulf counties to help guide editorial direction and coverage priorities. The acquisition closed in November 2025.
December
Adams MultiMedia acquires acquired The Cedar Rapids Gazette and 11 community newspaper titles
Adams MultiMedia, a Minnesota-based company, is purchasingacquired The Cedar Rapids Gazette and 11 community newspaper titles in Iowa from employee-owned Folience, Inc., along with three total-market-coverage shoppers.
Founded in 1883, The Gazette publishes a daily digital edition and three print editions per week. The transaction maintains ownership by a family-held company, a structure that has defined much of the paper’s 143-year history. The acquisition marks Adams MultiMedia’s first entry into Iowa and expands its footprint to more than 120 newspapers across 19 states.
Plainville Times acquired and merged into Stockton Sentinel
Main Street Media transferred ownership of the Plainville Times (Plainville, Kansas) to Stockton Sentinel LLC, owned by Bart Hamilton and Susan Schneider.
The acquisition will resulted in the Plainville Times merging into the Stockton Sentinel to form a unified countywide newspaper serving Rooks County. The Dec. 25 issue will be the final standalone edition of the Plainville Times, with local coverage continuing within the Stockton Sentinel.
Pennsylvania newspaper convertings to nonprofit ownership under new local leadership
While not a traditional acquisition, LNP | LancasterOnline will transition to nonprofit ownership following Pennon’s decision to donate the newspaper’s assets to a newly formed nonprofit led by journalist David Greene.
The transaction converts the more-than-200-year-old Lancaster, Pennsylvania, newspaper into a nonprofit for the first time in its history. Current editorial and operational leadership will remain in place, and day-to-day operations will continue uninterrupted.
Closing Out 2025
The fourth quarter capped a year of sustained and evolving newspaper M&A activity. Across 2025, DV&A tracked 173 newspaper titles changing hands in 62 transactions. Activity built meaningfully as the year progressed: Q1 opened with 12 deals involving 32 titles, Q2 accelerated to 14 deals and 43 titles, Q3 surged to 27 transactions covering 71 titles, and Q4 closed at a steadier pace with nine deals encompassing 27 titles.
While Q4 reflected a more measured tempo, it underscored the durability of the transaction market following a year shaped by portfolio realignment, strategic consolidation, and continued ownership transitions across local and regional markets.