The Finger Lakes Times daily newspaper in Geneva, New York, has been sold by Independent Publications, Inc., Bryn Mawr, Pennsylvania, to Community Media Group, West Frankfort, Illinois, according to John Cribb, Cribb & Associates who represented the seller in the transaction.
The Finger Lakes Times is a six-day daily newspaper with paid circulation of approximately 16,800 Monday through Friday and 19,400 on Sunday. The newspaper is 108 years old, and serves the winery and vacation area in the heart of the Finger Lakes region. Included in the sale was a 20,000 square foot building and a five unit Goss Urbanite web press.
“We are pleased to know that the future of the newspaper has been placed in the hands of a company that, like us, is privately held, and is headed by Larry Perrotto, who is a career newspaperman,” commented Andrew T. Bickford, president and chief executive officer of Independent Publications. Independent Publications acquired the Finger Lakes Times in 1988 from the Williams family of Geneva, who had owned and operated the newspaper for nearly 100 years. Bickford said that Independent Publications sold the newspaper as a part of a geographical realignment of the company’s assets. Independent Publications last year made two acquisitions of publishing companies in Florida.
“We expect Finger Lakes Times to continue the tradition of serving its readers and advertisers with excellence under Community Media Group’s ownership,” Bickford said.
Community Media Group operates daily and weekly newspapers and free distribution shoppers in Illinois, Iowa, Indiana, Michigan, Pennsylvania, and New York. Larry J. Perrotto, president and chief executive officer said, “We are pleased to have this opportunity to serve the Finger Lakes region, and our company is committed to continuing the great tradition of high quality journalism for which the Finger Lakes Times is known, standards so ably established by the previous owners.”
Cribb & Associates is an eighty-one year old newspaper brokerage firm with offices in Montana, Virginia, and Florida.