American Community Newspapers Announces the Acquisition of Certain Newspapers from Hartman Newspapers
Dallas, TX -- American Community Newspapers LLC, today announced that it has purchased certain newspaper assets from Hartman Newspapers, L.P. The transaction includes the daily newspaper The McKinney Courier-Gazette, the total market coverage publication The Penny Saver and related publications in and around McKinney, Texas. Combined and non duplicated weekly circulation for the group exceeds 42,000 households.
In announcing the acquisition, Gene M. Carr, Chief Executive Officer of American Community Newspapers stated "The McKinney Courier-Gazette and its related publications are well established, landmark newspapers that have proudly served the growing communities of McKinney and the surrounding Collin County area since 1897. These newspapers are an excellent and strategic addition to our presence in the high growth and high demographic North Texas market and round out our dominance in Collin County. Bill Hartman and his team have done an outstanding job with these newspapers and we are very enthusiastic about their future prospects, particularly when combined with our current market holdings. This acquisition furthers our suburban strategy to acquire strong, community newspaper franchises in Top 50 U.S. markets and build value."
Scott Wright, the current Group Publisher of Star Community Newspapers, will assume the title of Publisher of these publications, in addition to his other responsibilities. With the acquisition of the Hartman newspapers, Star will reach over 150,000 households weekly in Collin County and over 250,000 households weekly in Collin, Denton and Dallas County.
"We have worked hard over the past 31 years to build the Courier-Gazette and Penny Saver into the fine publications they are today," said Hartman President Bill Hartman. "These were the first newspapers that we purchased in 1974 and are an important part of our legacy. We believe that Gene and American Community Newspapers will continue our tradition in McKinney and we wish them much success in the future as they take the reins."
ACN is a group of 3 daily and 68 weekly newspapers and 3 niche publications which reaches approximately one million households. The Company’s core operations consist of a 44 publication, clustered newspaper group located in and around the Minneapolis – St. Paul area. The other principal publication areas are the Dallas – Fort Worth and Kansas City metropolitan areas. The Company conducts its operations through Minnesota Sun Publications, Star Community Newspapers and Sun Publications, respectively. In addition, the Company owns and operates The Kansas City Jewish Chronicle, The Kansas City Nursing News and The St. Louis Nursing News publications. ACN intends to launch new newspapers in all three existing metro areas in which it operates, to acquire other suburban newspapers in each market and to acquire or build similar suburban newspaper groups in other Top 50 markets in the United States. For more information go to www.americancommunitynewspapers.com.