Halifax Media Group has agreed to buy
the Worcester Telegram & Gazette from Boston Globe Media Partners, the companies said Wednesday..
Worcester Herald still locally owned and operated with no lay offs planned!!!
@John_W_Henry agrees to sell #Worcester Telegram & Gazette to Halifax Media. New owner won't hire all current workers.http://t.co/jJcmjOjemi
— Lisa Eckelbecker (@LisaEckelbecker) May 21, 2014
#Worcester Telegram & Gazette to be sold to Halifax Media. We’ll find out May 30 who still has a job.
— Susan Spencer (@SusanSpencerTG) May 21, 2014
Pretty sure you will see some immediate lay-offs. Our bet is 20-30 within the first month.
DAYTONA BEACH, FL, May 21, 2014 – Halifax Media Group announced today an agreement to purchase the Telegram & Gazette in Worcester, Massachusetts. The closing date of the transaction has not been announced.
“The Telegram & Gazette is an essential part of central Massachusetts, and Halifax recognizes that,” said Mike Sheehan, CEO of the Boston Globe. “They understand the Worcester market, and bring the passion and commitment needed to preserve the T&G’s traditions and build for the future.”
The Telegram & Gazette acquisition would expand the reach of Halifax Media Group outside of the southeast, home to the majority of its 35 newspapers. Halifax Media Group’s other acquisitions include HarborPoint Media, Freedom Communications Florida and North Carolina and The New York Times Regional Newspaper Group.
“From the time we learned the T&G was for sale we were interested,” said Michael Redding, CEO of Halifax Media Group. “The T&G is an excellent local newspaper with a dedicated and talented staff. In 2012, we acquired the Regional Media Group newspapers of the New York Times, so the T&G will be aligned again with their former New York Times papers and will join the outstanding teams at Halifax. We look forward to the upcoming closing of the transaction.”
About Halifax Media Group
Founded in 2010, Halifax Media is headquartered in Daytona Beach, Fla. The company’s investment group includes Stephens Capital Partners, JAARSSS Media, and Redding Investments. The group consists of 35 publications in five states, primarily situated in the Southeast. Halifax Media’s strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community.
