SHELBYVILLE, Ky. — Paxton Media Group announced Tuesday the purchase of Landmark Community Newspapers LLC, a chain of daily and weekly newspapers based in Shelbyville, Kentucky.
The deal, which was finalized this week, includes the purchase of all 46 newspapers in the Landmark chain.
“We are very excited to add these newspapers into the PMG portfolio,” said Jamie Paxton, PMG president and CEO. “PMG believes strongly in the value of local newspapers and the vital role they play in the communities that they serve. We appreciate Landmark choosing us to be the new stewards of these important community assets.”
The Landmark purchase includes three Tennessee publications, including papers in Roane, Morgan and Campbell counties. PMG, which is headquartered in Paducah, will now own four newspapers in Tennessee with a total of 119 publications across 14 states.
“It’s part of Paxton’s ongoing strategy to acquire newspapers given the conditions and the nature of the newspaper industry,” said Jana Thomasson, publisher of The Mountain Press and group publisher for the North Carolina, Tennessee, Georgia, Virginia and South Carolina region. “Acquisitions provide opportunity for synergy when we are geographically connected.”
Landmark Community Newspapers traces its roots to 1966 when a group of eight local newspaper publishers decided to pool their resources and purchase a printing plant. The company was incorporated as Newspapers Inc. two years later in 1968. Newspapers Inc. was then purchased by Landmark Communications Inc. in 1973.
In addition to its Tennessee newspapers, the sale includes Landmark’s publications in Kentucky, Virginia, North Carolina, South Carolina, Florida, Indiana, Iowa and New Mexico.
PMG will officially take over operations in early June, but there will be a transition period to PMG regarding systems and procedures, Paxton said.