Family business Vernon Publishing is buying a group of publications in the Lake of the Ozarks area of Missouri from Gannett, Lake News Online reports.
The deal is expected to close Sept. 1.
Media merger and acquisition firm Dirks, Van Essen & April represented Gannett in the deal. Terms of the deal were not made public.
Vernon Publishing publishes three other papers in the area: The Advertiser in Eldon, The Index in Hermitage and The Tipton Times. The publications being bought include the Lake Sun, Lake of the Ozarks Real Estate, BOATS magazine, Lake Leader, Lake Lifestyles Magazine and Vacation News.
“We are excited for opportunity to publish this group of publications around the Lake of the Ozarks,” said Publisher Trevor Vernon, who also serves as mayor of Eldon, Missouri. “I have great memories of growing up on and around the lake. We think these publications are a natural fit with the others we currently own. The future of these publications and the area is looking bright.”
Poynter and Northwestern University’s Medill Local News Initiative recently co-produced a piece that identifies a trend of chains selling off local newsrooms. Gannett has sold more than 23 publications back to local owners, says Poynter.
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