Sun Media announced today that it has sold all its Florida Sun operations in the state of Florida to Independent Publications of Bryn Mawr, Pennsylvania for an undisclosed amount, according to John Cribb, Cribb & Associates, the newspaper brokerage firm representing the seller in the transaction.
The Florida Sun operations are based in Bradenton, Florida, and include seven weekly publications as well as a commercial web printing operation. Community newspapers owned and operated by the company are: The Osceola News-Gazette; The Sarasota Weekly; The South Orange News; and The Venice Weekly. Shopping guides include: The Bradenton Shopping Guide, The Osceola Shopper; and The Sebring Shopping Guide.
“The sale of our operations in Florida will allow us to focus more strategically on our Canadian properties,” stated Mr. Pierre Francoeur, President and Chief Executive Officer of Sun Media Corporation. “The Florida Sun is a better fit for Independent Publications and will flourish under its ownership.”
Mr. Andrew Bickford, President of Independent Publications, Inc. said, “Our acquisition of Florida Sun is an exciting opportunity to expand into an attractive growth market where these community newspapers and shopper publications have established a strong reputation that we hope to build upon. We are pleased that the current management team and all of the employees of Florida Sun will be joining our company.” Independent Publications is a privately held company with daily and weekly newspapers and other publications in New Hampshire, Pennsylvania, and New York; a commercial printing division; and a sound communications division.
Sun Media Corporation, a division of Quebecor Media Inc., is Canada’s second largest newspaper publishing company with daily newspapers in 8 of the top 11 markets in Canada. Sun Media publishes a total of 16 dailies as well as 184 community weeklies and specialty publications across Canada. Sun Media is also a partner in CablePulse24, a 24-hour television news station serving Southern Ontario.
Cribb & Associates is an eighty-year-old newspaper brokerage firm with offices in Montana, Virginia, Florida, and Wyoming.