Schurz Communications to sell publishing division as part of global technology growth strategy.
TELECOMWORLDWIRE-February 6, 2019-Schurz Communications to sell publishing division as part of global technology growth strategy
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Schurz Communications, a privately held communications company formed in 1872, has announced its intention to sell its publishing division to GateHouse Media, LLC and will continue investing in the areas of cloud and managed IT services and broadband operations, the company said.
GateHouse Media, one of the largest publishers of locally based print and online media in the United States, is expected to assume ownership during the first quarter of 20 regional papers and several special publications in Indiana, Maryland, Michigan, Pennsylvania and South Dakota.
Schurz Communications' technology focus began with the purchase of four broadband companies and the company is currently poised to complete the purchase of a fifth. In February 2018, Schurz Communications subsequently announced that it had acquired compliant hybrid cloud provider, Online Tech, LLC.
Moorgate Securities, LLC acted as exclusive financial advisor to Schurz Communications in connection with this transaction.
Schurz Communications Inc. is a family owned corporation that has been helping businesses, communities and individuals make meaningful connections for five generations. The company's portfolio also includes a variety of minority investments. For more information, visit www.schurz.com.
GateHouse Media, headquartered in Pittsford, New York, is a wholly owned subsidiary of New Media Investment Group Inc., which is focused primarily on investing in a high quality, diversified portfolio of local media assets and on growing existing advertising and digital marketing and business services. GateHouse Media is one of the largest publishers of locally based print and online media in the United States, as measured by its 145 daily publications.
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|Date:||Feb 6, 2019|
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