GateHouse Media Inc., owners of the Journal Star and the Pekin Daily Times, has purchased the Times Newspapers, publisher of five news weeklies and four free shoppers in the three-county Peoria metro area, according to John Cribb of Cribb, Greene & Associates, who represented the seller in the transaction.
The group publishes five weekly newspapers – the Peoria Times-Observer, the Chillicothe Times-Bulletin, the Morton Times-News, the East Peoria Times-Courier and the Washington Times-Reporter – with a combined reported circulation of about 31,000. It also publishes weekly shoppers in Chillicothe, East Peoria, Morton and Pekin with a combined reported distribution of just over 10,000.
GateHouse, a publicly-traded company (NYSE: GHS) based in Fairport, N.Y., took possession of the Journal Star and three other Illinois dailies plus a weekly from Copley Press in early April. The company already had owned 16 dailies in the state including nine in Central Illinois. It later purchased the Register-Star in Rockford and owned 21 daily newspapers, 48 weeklies and seven shoppers in Illinois before this latest transaction.
Scott Champion, co-president and co-chief operating officer over GateHouse’s western division, said the Times Newspapers have an outstanding reputation in the state of Illinois and will be a nice fit into Gatehouse Media. “It is our intent to continue to provide readers and advertisers the products they are accustomed to receiving,” Champion said.
Time Newspapers was most recently owned by Jim Glassman. Its headquarters are at 1616 W. Pioneer Parkway in Peoria and it employs about 30.
Cribb, Greene & Associates is an eighty-four year old newspaper brokerage company with offices in Bozeman, Montana and Charlottesville, Virginia.