Herald-Argus parent buys 5 more papers
HOPKINSVILLE, Ky. — Paxton Media Group, parent corporation of The News-Dispatch and La Porte County Herald-Argus, has announced the purchase of five newspapers in western Kentucky from Kentucky New Era Media Group.
The Hopkinsville New Era, Dawson Springs Progress, Princeton Times Leader, Providence Journal-Enterprise and Oak Grove Eagle Post will join Paxtom Media, a family-owned company headquartered in Paducah, Ky.
With the additions, the company now owns more than 35 daily newspapers and numerous weekly publications across Indiana, Arkansas, Georgia, Illinois, Kentucky, Louisiana, Michigan, Mississippi, North Carolina and Tennessee.
The papers will join other Paxton publications in western Kentucky managed by Group Publisher Mike Weafer. That includes papers in Owensboro, Madisonville and Russellville.
Weafer said the strong foundation these papers have built in their communities made them a natural fit for PMG.
“Being the primary source for news, a strong partner with our advertisers and the local business community, a watchdog when needed, and a bright light to shine upon all that is good in our communities, are things we strive for every day. All of these papers have established a strong foundation for doing just that, and building upon that foundation will be our priority.”
“This business combination provides the financial security needed to assure these newspapers will continue to serve their communities long into the future,” said David Paxton, president and CEO of Paxton Media Group.
Taylor Wood Hayes, whose family purchased the New Era in 1881, said the sale is about ensuring the papers have the resources needed to grow moving forward.
“Paxton has the tools and operational scale necessary to prepare, but also propel, the New Era and its sister papers for the opportunities that lie ahead,” he said. “I cannot express adequately the gratitude and thanks of our family to all employees, past and present, who served our readers, customers and communities through the years.”
—From staff reports