The Bay Press, a twice-weekly paid newspaper in Biloxi, MS, was recently sold to Family Media, Inc., of Miami, Ohio, according to Gary Greene, Cribb & Associates, LLC, who represented the seller in the transaction.
An investor group headed by company president Gary Michiels had owned The Bay Press for four years. The company had extensive experience in owning and operating radio stations and The Bay Press was its first purchase in print media.
When purchased, The Bay Press was a once a week publication. The group increased frequency to twice a week and broadened its news and circulation coverage, doubling the size and revenue of the newspaper.
Family Media, Inc. President Jerry Turner said his company is excited about the acquisition. “This fits the type of property we are looking for,” said Turner, who owns several daily newspapers in Ohio. “This acquisition gives us an opportunity to expand in an area that we feel has a solid future.”
Cribb & Associates is an eighty-two year old newspaper brokerage firm with offices in Montana, Virginia and Florida.