Enterprise
PORTLAND, Maine (AP) — The nonprofit Nationwide Belief for Native Information plans to purchase greater than 20 day by day and weekly newspapers in Maine, together with the Portland Press Herald, by the top of July, officers stated Monday.
The deal represents the very best path ahead by sustaining the newspaper group’s independence and guaranteeing continuity for each information workers and newspaper readers, Reade Brower, proprietor of Masthead Maine, the newspapers’ mother or father firm, instructed the Portland Press Herald. Brower and Elizabeth Hansen Shapiro, chief govt officer of the belief, declined to debate the sale worth.
The newspapers will proceed to be managed by Masthead Maine CEO Lisa DeSisto and her workers, Hansen Shapiro instructed the newspaper. DeSisto referred inquiries to the Nationwide Belief for Native Information.
Steve Greenlee, govt editor of the Portland Press Herald, stated the newsroom was elated by the information. The Maine workers is aware of that the end result might have been far totally different, he stated.
“This might have been dreadful. As a substitute it’s nothing in need of miraculous,” he stated.
Based in 2021, the belief says its mission is to offer sustainability for native information sources. It owns two dozen neighborhood newspapers in suburban Denver, Colorado.
Included within the deal, are additionally the Solar Journal in Lewiston, Maine, the Kennebec Journal in Augusta, the Morning Sentinel in Waterville, the Occasions File in Brunswick and 17 weekly papers. Brower owns a number of different weeklies that aren’t a part of the deal.
Brower bought MaineToday Media, the mother or father firm of the Press Herald, the Kennebec Journal and Morning Sentinel, in 2015 and added newspaper teams and newspapers over the following a number of years.
He introduced in March he was contemplating promoting his media holdings. He stated on the time he was open to totally different concepts together with working the newspapers as a nonprofit.