Retirement Systems of Alabama has bought the CNHI LLC
newspaper chain, papers in the chain reported.
Details of
the deal were not made public.
CNHI, which
was owned by Raycom Media, has more than a hundred papers and
websites in 22 states, including 68 dailies.
RSA
operates the pension fund for Alabama
The two
companies were linked previous to the sale, as RSA had $2.7 billion invested in
Raycom Media as of mid-2018, AL.com reported.
Atlanta-based
Gray Television group bought Raycom’s TV stations, completing the sale this
month. The combined Gray now owns stations and digital properties in 91 TV
markets, including 150 affiliates of CBS, NBC, ABC and Fox. As part of the
deal, Gray sold off nine stations in markets where it overlaps with Raycom.
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