News Media Corporation has sold its Colorado cluster of newspapers to Louie Mullen. The sale included Valley Courier daily in Alamosa, Monte Vista Journal, The Del Norte Prospector, The Conejos County Citizen, Center Post-Dispatch, The Mineral County Miner, The South Fork Times and SLV Lifestyles.
John Cribb, of Cribb Cope & Potts, represented the Tompkins family and News Media Corporation in the sale. Terms were not disclosed.
JJ Tompkins, CEO of News Media Corporation, said it was important his family’s company found the right person to whom to sell the Colorado newspapers.
“After 30-plus years of my family being stewards of these newspapers, we are very pleased to pass the torch to Louie Mullen,” Tompkins said. “It was very important to me, that we transfer on the rich history and future of these fine publications to family ownership, who have the best interest of the readers and community.”
Mullen was thankful for the opportunity to continue the News Media Corporation and Tompkins family legacy in Colorado.
“I would like to thank JJ and his family for this opportunity,” Mullen said. “Newspapers are a lifeblood for our communities. They are a reflection of their populations. I wouldn’t be able to work in this business, or make these transactions happen without the support of the town, right here.”
Local group publisher Keith Cerny, who is staying with the newspapers as they transition to new ownership, said:
“It has been a pleasure working for News Media the past 35 years,” Cerny said. “Not many changes are expected with the new owner, and we plan to continue the best in local news coverage that readers of all of our publications have come to expect.”
The Tompkins family and News Media Corporation were represented by John Cribb of Cribb, Cope & Potts. CCP is a leading merger and acquisition firm with offices in Montana, California and Arkansas.
