CONWAY – Morris Publishing Group, owner of the Log Cabin Democrat in Conway, announced they will sell their chain of daily newspapers to Gatehouse Media for a transaction valued at over $120 Million.
The buyer is the parent company of a number of newspapers in Arkansas including the Southwest Times Record in Fort Smith, and the Press-Argus Courier in Van Buren.
According to the Conway newspaper’s announcement, the sale includes 10 other daily newspapers, numerous non-daily publications and associated websites and digital assets. The transaction is expected to close on October 2, 2017. Terms were not disclosed.
“The Log Cabin Democrat will retain its mission to be Faulkner County’s news, advertising and information source since 1879,” said Cynthia Crabb, Group Controller of the Democrat. “We are excited about the new available resources and opportunities with GateHouse Media and anticipate a new synergy to emerge with the existing GateHouse properties across the state. We will continue to evolve as a multi-platform media company that includes print and digital solutions for both our readers and advertisers.”
While Gatehouse Media has been in rapid expansion mode in states like Arkansas, Missouri, and Kansas, it has eliminated a number of jobs and departments attributing the moves to cost cutting measures. Last month, the company eliminated the position of Arkansas capitol correspondent John Lyon, and closed the Little Rock based Arkansas News Bureau, which had fed political news to affiliate papers across the state.