Local Media Group

Last updated
Local Media Group, Inc.
TypeSubsidiary
IndustryNews media
FoundedNovember 1936
DefunctDecember 2013
FateAcquired by New Media Investment Group
Headquarters Campbell Hall, New York
United States
Products Daily and weekly newspapers
Number of employees
1,500
Websitewww.localmediagroupinc.com

Local Media Group, Inc., formerly Dow Jones Local Media Group and Ottaway Newspapers Inc., owned newspapers, websites and niche publications in California, Maine, Massachusetts, New Hampshire, New York, Oregon and Pennsylvania. It was headquartered in Campbell Hall, New York, and its flagship was the Times Herald-Record , serving Middletown and other suburbs of New York City.

Contents

The Ottaway organization was founded in by James H. Ottaway Sr., owner of the Endicott Daily Bulletin of Endicott, NY, in 1936. It had grown to nine newspapers in the northeastern United States by 1970, when it was acquired by Dow Jones & Company, publisher of The Wall Street Journal , and later a subsidiary of Rupert Murdoch's News Corporation. Following the 2013 split of News Corporation into 21st Century Fox and News Corp, News Corp sold the Dow Jones Local Media Group to Newcastle Investment Corp., an affiliate of Fortress Investment Group, which placed the holdings in the GateHouse Media portfolio of its New Media Investment Group, renamed Gannett following that company's 2019 acquisition by New Media Investment Group.

History

Ottaway newspapers

James H. Ottaway Sr. founded the company in November 1936, when he purchased the Bulletin, a semi-weekly paper in Endicott, New York, that he converted to a daily within a year. Ottaway added the Oneonta Star in 1944, followed two years later by the Pocono Record . [1]

The company was a seller more often than a buyer in the 2000s (decade), however, and several observers—including the New York Post, The Boston Globe and Ottaway's own Cape Cod Times—speculated that News Corporation intended to sell all or part of the company in the near future. [2]

Dow Jones Local Media Group

Under Dow Jones' ownership, Ottaway sold several newspapers in recent years, however, most recently in December 2006, when the company dealt nearly half its daily newspapers to Community Newspaper Holdings Inc. (CNHI) for $287.9 million (including real estate). [3]

Until December 2006, the following dailies and weeklies were also part of the Ottaway chain. Other than the California and Connecticut newspapers, they are all now part of CNHI. [3]

These four daily newspapers were sold by Ottaway to CNHI for $182 million in 2002: [4]

Also, Ottaway sold the three daily newspapers of Essex County Newspapers Inc. to The Eagle-Tribune of North Andover, Massachusetts, in 2002, for $70 million. [5] The Eagle-Tribune, along with the Essex papers listed below, was later purchased by CNHI.

Sale to Newcastle

On September 4, 2013, News Corp announced that it would sell the Dow Jones Local Media Group to Newcastle Investment Corp.—an affiliate of Fortress Investment Group, for $87 million. The newspapers will be operated by GateHouse Media, a newspaper group owned by Fortress. News Corp. CEO and former Wall Street Journal editor Robert James Thomson indicated that the newspapers were "not strategically consistent with the emerging portfolio" of the company. [6] GateHouse in turn filed prepackaged Chapter 11 bankruptcy on September 27, 2013, to restructure its debt obligations in order to accommodate the acquisition. [7] Newcastle combined Local Media Group with the post-bankruptcy GateHouse Media later in 2013 to form New Media Investment Group. [8]

Holdings

Holdings by frequency of publication

Dow Jones Local Media Group published eight daily and 15 weekly newspapers in seven U.S. states. Its circulation was given in 2005 as 282,000 daily, 316,000 Sunday and 119,000 daily unique visitors on newspaper Internet sites. [3]

Daily newspapers are:

Weekly and twice-weekly newspapers include the following:

Holdings by location

Holdings as of September 2013, immediately after News Corporation sold the Dow Jones Local Media Group portfolio, with its name then shortened to Local Media Group, was merged into the new owner's GateHouse Media group. [9]

California
Massachusetts
New Hampshire
New York
Oregon
Pennsylvania

Footnotes

  1. ↑ "DowJones.com Community Media". Archived from the original on 24 January 2007. Retrieved 8 January 2007.
  2. ↑ "Ottaway Papers Might Be Sold, Including 16 in N.E.". NEPA Bulletin (Boston, Mass.), December 2007 Archived 2008-02-16 at the Wayback Machine , page 3.
  3. 1 2 3 "Dow Jones Completes Sale of Six Local Newspapers." Dow Jones & Company press release, December 5, 2006.
  4. ↑ "Dow Jones To Sell Four Ottaway Newspapers", accessed January 8, 2007.
  5. ↑ "Bay State Paper Gets to Grow in Its Own Backyard". NewsInc, April 22, 2002. Accessed January 8, 2006.
  6. ↑ "News Corp. sells 33 papers to New York investors". New York Business Journal. Retrieved 4 September 2013.
  7. ↑ "GateHouse Files for Bankruptcy as Part of Fortress Plan". Bloomberg.
  8. ↑ New Media Investment Group. 2014 Annual Report (PDF).
  9. ↑ https://web.archive.org/web/20130929010258/http://www.dowjoneslmg.com/locations. Archived from the original on 2013-09-29. Retrieved 2023-02-23.{{cite web}}: Missing or empty |title= (help)
  10. 1 2 "Locations". Local Media Group. Archived from the original on 2014-12-29. Retrieved 19 June 2014.
  11. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Dow Jones Local Media Group. "Locations" . Retrieved 11 April 2012.

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