Times-Shamrock Communications contracts with broker to put some of its dailies and alt-weeklies up on the block
The media company Times-Shamrock Communications announced today that it would be selling a group of its daily and weekly newspapers. The company said it had brought in the mergers and acquisitions firm Cribb, Greene and Associates to handle the sale.
Up for sale will be the dailies The Towanda Daily Review and Sunday Review, The Shamokin News-Item, The Petersburg (Va.) Progress-Index and The Virgin Islands Daily News. The alternative weeklies for sale include the Baltimore City Paper, Orlando Weekly, San Antonio Current, Cleveland Scene and Detroit Metro Times.
“All of these papers have been strong, profitable investments for us for many years,” said George Lynett Jr., CEO of Times Shamrock Communications and Publisher of The Times-Tribune in the paper’s online post (paywall). “We have enjoyed operating in these diverse markets and the decision to sell was difficult. However, as we look to refocus and double-down on our efforts at home in Northeast Pa., it made sense for us to offer these more distant papers for sale to someone who could take them to the next level of growth.”
Times-Shamrock Communications is based in Scranton, Pennsylvania, and owned by the Lynett and Haggerty families. Most of the properties, which include some radio stations, are located in northern Pennsylvania.