Meredith Owensby Harrell has sold Carter Publishing Co., Inc. d/b/a Kernersville (North Carolina) News to Paxton Media Group, according to John Cribb of Cribb, Cope & Potts who represented the Carter/Owensby-Harrell family in the transaction. Terms were not disclosed.
“I would like to thank the many long time employees of the News, our readers and the communities we serve for their long standing support of us. It is time for our family to move on, and we believe we found the best steward for our family legacy in Jamie Paxton and Paxton Media Group.”
The Kernersville News was founded in 1938 and has been owned by the Carter/Owensby-Harrell family since its inception. It is currently a twice weekly and TMC product.
Paxton Media is a family-owned company headquartered in Paducah, Kentucky. The company publishes daily and weekly newspapers in more than 120 communities in the Midwest and South and operates an NBC affiliated television station. The company is currently managed by 4th and 5th generation family members.
“We are very excited to add the Kernersville News into the PMG portfolio," said Jamie Paxton, PMG president and CEO. "PMG believes strongly in the value of local newspapers and the vital role they play in the communities that they serve. We appreciate the Harrell family choosing us to be the new stewards of this important community asset.”
The Kernersville News will join the nearly 20 other Paxton owned newspapers in North Carolina managed by Group Publisher Jana Thomasson. "We are excited to serve the readers and advertisers of the Kernersville News,” said Thomasson. “Our company and staff are committed to providing local news, sports and marketing opportunities to the community."
Cribb, Cope & Potts is a leading merger and acquisition firm with offices in Montana, California and Arkansas.
