Lakeway Publishers, Inc., has announced the sale of its Missouri regional operation to CherryRoad Media, Inc., a media and technology company focused on the sustainability of community journalism.
Included in the purchase are the Centralia Fireside Guard, Elsberry Democrat, Hermann Advertiser Courier, Lincoln County Journal, (Monroe City) Lake Gazette, Pike County News, Troy Free Press and Vandalia Leader.
The sale becomes effective Jan. 1.
“We are excited to be the new stewards of these community news outlets,” Jeremy Gulban, CEO of CherryRoad Media, said. “There is rich history within these communities, this region, and these newspapers have been an integral part of that history, have chronicled that history. We look forward to continuing to serve the citizens of these communities and carrying on the legacy of their newspapers.”
A subsidiary of CherryRoad Technology, CherryRoad Media operates over 80 newspapers in 18 states. A family-owned business based in Parsippany, New Jersey, CherryRoad Media is focused on using technology to strengthen communities through their local newspapers.
“It has been our honor to be stewards of Lakeway’s Missouri newspapers,” said Lakeway Publishers, Inc. President R. Michael Fishman. “There is no more important role in journalism than that of a community newspaper, telling the stories and serving as the official record for the life of a community and the people who live within that community. It has been a privilege to play a key role in the historic legacy of these papers.”
“And now, we are excited to hand over the reins to CherryRoad Media, Inc. which will provide the leadership and infrastructure necessary for the Missouri newspaper group to continue to flourish.”
Lakeway is a family-owned media company with headquarters in Morristown, Tennessee. Lakeway owns and operates community newspapers and magazines in Tennessee, Missouri and Virginia. Lakeway Publishers, Inc. was incorporated in 1966.
Gulban said that not much would change in the running of the papers. However, he said that the papers’ digital presence would be increasing going forward. All the papers will continue to publish a weekly paper while also working to improve its reach to those audiences that get their news entirely online, Gulban said. CherryRoad has encouraged the same at its other newspapers, as he said smaller outfits often do not have the resources necessary to do so.
“We look forward to helping strengthen local journalism through our understanding of technology, which is our goal everywhere we go,” said Gulban.
“These operations, like so many in our industry, have struggled under the weight of industry disruption and an evolving economy. We are confident these newspapers can be strengthened through technology and kept viable for the long run.”
“As a technology company, we've got a lot of those skill sets and resources,” he said, “so in the markets we go into, we're looking to bring more digital solutions into the website for the paper.”
Gulban hoped that this effort would eventually help put the Lakeway newspapers at the “cutting edge of digital news in small towns,” he said.
Said Lakeway’s Fishman, “I am grateful to have had the opportunity to work alongside the leadership of the Missouri newspapers. I am confident that these communities will benefit from not only the current leadership in those markets but from the new ownership. We are confident that CherryRoad Media, Inc. will continue and improve on the legacies of these great newspapers that have served the people of Missouri well.”
“We look forward in continuing our mission in this time of transition and doing everything we can to ensure that the papers continue doing the work of serving their readers throughout the process of transition.”
