NEW SHOREHAM – Michael Schroeder, owner of CCC Media, announced on Wednesday the company has sold The Block Island Times to Rhode Island Suburban Newspapers, which owns daily and weekly newspaper across the state.
The Block Island Times, founded in 1970 by publisher Dan Rattiner and editor Margaret Cabell Self, was owned by Schroeder since 2016. It is a weekly newspaper serving the town of New Shoreham.
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RISN’s acquisition includes the newspaper’s ancillary publications, such as the seasonally published Block Island Summer Times, the annually published Block Island Magazine and Block Island Weddings magazine.
Schroeder said that Dirks, Van Essen & April, a media merger and acquisition firm based in Santa Fe, New Mexico, represented CCC Media in the transaction. Terms of the transaction were not disclosed.
Rhode Island Suburban Newspapers, founded in 2007, operates The Westerly Sun, The Kent County Daily Times, The Call of Woonsocket, The Times of Pawtucket, Independent and Southern R.I. Newspapers. The company also owns the Yuma Sun in Arizona and the Porterville Recorder in California.
Jody Boucher, RISN regional publisher, said: “The Block Island Times is a perfect addition to Rhode Island Suburban Newspapers, joining our family of community-oriented, locally-focused newspapers covering Rhode Island and southeastern Connecticut. We are so excited to have the opportunity to serve Block Island and its residents, business owners and visitors.”
“We are committed to continuing the tradition of journalistic integrity The Times has offered the island for over 51 years, and we believe the addition to our family of papers will strengthen and increase the reach of readership in the years to come.”
“I look forward to meeting the island’s residents, businesses and organizations over the next few months.”
Schroeder said The Block Island Times had taken “a big hit” in revenue when the pandemic began, as advertising dollars dried up. Uncertainty with marketing and sales at the time caused some issues that created challenges, he said.
“The bottom line is: I think it’s a good opportunity, but it could be a better opportunity for a bigger company,” he said.
Schroeder said he has a relationship with RISN from working in the publishing industry in Connecticut, and that played a role in the transaction. “It all came down to a good offer, and it was the right time for us to sell,” he said.
“I am honored to have served the island for the past five years and work aside the talented and committed staff, and thank our readers and clients for their supportive partnership,” said Schroeder. “I know that Jody and the new owners have the same commitment to this special place.”
Cassius Shuman is a PBN staff writer. Contact him at Shuman@PBN.com. You may also follow him on Twitter @CassiusShuman.
