It was announced today that Paxton Media Group acquired two newspapers in middle Tennessee, the Southern Standard in McMinnville and the Smithville Review in Smithville. The operations had been owned by Morris Multimedia, Inc.
Randy Cope with Cope Advisors represented Morris Multimedia in the sale. Terms of the transaction were not disclosed.
Both newspapers have served their communities since the late 1800s. The Southern Standard was established in 1879 and is published three times per week. The Smithville Review started in 1892 and is published weekly.
Paxton Media Group is a family-owned company founded in 1896. It is currently led by President and CEO Jamie Paxton, the fifth generation of the Paxton family to hold the title of president of the company. The company publishes nearly 120 community newspapers in the Southeast and Midwest, and related websites in each of those communities.
“We are excited to add these newspapers to the PMG portfolio,” said Jamie Paxton. “PMG believes strongly in the value of local newspapers and the vital role they play in the communities that they serve. We appreciate being chosen as the new stewards of these important community assets.”
Charles H. Morris, the owner of Morris Multimedia, Inc., said, “In today’s challenging media environment, regional scale is extremely important, which positions Paxton Media Group as the right company to own and operate these two newspapers going forward. Paxton is very well thought of in the industry, and we are confident that they will continue to emphasize local journalism in these two markets.”
