Alabama-based news-gathering conglomerate Raycom Media announced today it is selling or spinning off Community Newspaper Holdings, Inc. (CNHI), whose stable of newspapers north of Boston includes the Pulitzer Prize-winning Eagle-Tribune in North Andover, the Salem News, The Gloucester Daily Times and The Daily News of Newburyport.
The move is a result of Raycom's pending acquisition by Georgia-based Gray Television, Inc., for $3.647 billion.
Raycom merged with CNHI just nine months ago.
Neither Gray nor Raycom own any television stations in Massachusetts.
Gray currently owns 100 television stations in 57 markets.
Raycom owns or operates 65 TV stations and two radio stations across 20 states.
CNHI has newspaper properties in 22 states.
Donna Barrett, CNHI's president and chief executive officer, said the New Mexico brokerage firm of Dirks, Van Essen, Murray and April has already been retained to sell off its newspapers.
"We're excited to open the next chapter in our commitment to top-flight community journalism. We are looking for a transaction or transactions that will carry on CNHI's rich tradition of public service through award-winning journalism," Barrett said in a statement.
"As we undertake this exploration process, we cannot say that any particular transaction will or will not take place," Barrett said. "What we can say is that we will consider various options as we work to find a partner or partners that share our dedication to community newspapers and the vital journalism they produce to serve local audiences."
