News-Argus sold to Paxton Media Group
Paxton Media Group has announced the purchase of the Goldsboro (N.C.) News-Argus from Wayne Printing Company.
Dirks, Van Essen, Murray & April, a media merger and acquisition firm based in Santa Fe, N.M., represented Wayne Printing Co. in the transaction. Terms were not disclosed.
Paxton Media, a family-owned company headquartered in Paducah, Ky., owns more than 35 daily newspapers, a television station and numerous weekly publications across Arkansas, Georgia, Indiana, Illinois, Kentucky, Louisiana, Michigan, Mississippi, North Carolina and Tennessee. Fourth- and fifth-generation family members manage Paxton Media.
"We are gratified for the opportunity to assume stewardship of The News-Argus," said David Paxton, president and chief executive officer of Paxton Media Group. "It is an award-winning newspaper with a proud history of serving Wayne County."
The News-Argus will join other Paxton publications in the NC/TN/GA division of Paxton Media Group, managed by Group Publisher Rick Bean. That group includes 11 other dailies, seven of which are in North Carolina. The North Carolina dailies include The Daily Dispatch (Henderson), The Sanford Herald, The Enquirer-Journal (Monroe), News-Topic (Lenoir), The Daily Courier (Forest City), The Daily Herald (Roanoke Rapids) and The High Point Enterprise. There also are several weekly newspapers in the division.
The News-Argus will be in a better position to serve readers and advertisers by combining its strengths with those of other Paxton newspapers in the area, said Jamie Paxton, vice president of Paxton Media Group.
"This business combination provides the financial security needed to assure the News-Argus will continue to serve residents of Wayne County long into the future," Paxton said.
"We embrace this new member of the Paxton NC family," Bean said. "While newspapers have taken on a different look in the past decade, the goal of meeting the advertising and informational needs of each market remains our core mission."
In a statement, Hal Tanner III, president and publisher of Wayne Printing Co., said, "The Tanner family has proudly been a part of the Wayne County and Goldsboro communities for more than 65 years when my grandfather began as publisher in 1953." Tanner serves as vice chairman of the SNPA Foundation Board of Trustees.
Tanner added, "Anticipating my father's retirement as publisher, Leigh and I were excited about coming home to Goldsboro to assume that role. It has truly been a privilege to serve as publisher of this fine newspaper and an honor to work with such dedicated and talented employees. The News-Argus team continues to adapt to the ever-changing digital landscape without a loss of focus on our core print products.
"Joining Paxton Media Group is a very positive development. David and Jamie Paxton are astute newspaper operators and are well respected in the industry. I am confident that the Paxtons will continue to support the high-quality journalism and advertising solutions Wayne County expects from this newspaper. In this way, the mission of the Goldsboro News-Argus continues: to be the leading provider of accurate news and information in Wayne County while working to better the lives of all members of our community."
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