Agreement Announced to Sell Scottsdale Progress to Cowles Media Co.
SCOTTSDALE, Ariz. (AP) _ The owners of the Scottsdale Progress have announced agreement to sell the daily newspaper to Minneapolis-based Cowles Media Co.
Terms of the planned sale, announced Thursday, were not disclosed. Jonathan Marshall, the paper’s editor and publisher, and associate publisher Maxine Marshall have owned the paper since 1963.
Cowles publishes the Minneapolis Star and Tribune; The Rapid City (S.D.) Journal; the Great Falls (Mont.) Tribune; the South Idaho Press in Burley; the Sentinel Publishing Co. weekly newspapers in the Denver area; and a group of magazines.
The Marshalls said they will continue as publishers of the Progress until January 1988, working with Cowles management. After that, they said, they will remain as editors and Jonathan Marshall will serve as chairman of the board of the Progress.
Closing of the sale is expected later this month.
The newspaper, which publishes Monday through Friday afternoons and Saturday morning, has a circulation of approximately 21,000.
Marshall said the owners had many offers for the paper over the years and chose Cowles because ″we believe its management has the same journalistic philosophy that we have, and because we were impressed by the company’s long record of excellence.″