New Media buys Journal Multimedia for $18M

NEW MEDIA Investment Group said Monday that it has completed the acquisition of Journal Multimedia for $18 million.
NEW MEDIA Investment Group said Monday that it has completed the acquisition of Journal Multimedia for $18 million.

PROVIDENCE – New Media Investment Group Inc. said Monday that it has completed the acquisition of Journal Multimedia for $18 million.
New Media, whose GateHouse Media owns The Providence Journal, had announced as part of its first-quarter earnings release last week that it planned to buy Journal Multimedia, a multi-title publishing, events, media and research company.
Journal Multimedia includes Central Penn Business Journal, NJBIZ and Lehigh Valley Business, as well as Pet Age, a national trade magazine for the pet industry, and Central Penn Parent, in addition to Best Companies Group, a research division that partners with local businesses and media outlets to create “Best Places to Work” publications and events.
New Media operates in more than 520 markets across 35 states. New Media owns more than 620 business and community news publications and more than 520 websites.

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