MediaNews Group completes the acquisition of Red Wing Publishing Company

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Independent Tech & news media Writer

Feb 15, 2020, 02:30 EST

Elkland, United States, Feb 15, 2020, 02:30 /Comserve / -- MediaNews Group had just completed acquiring the various assets and facilities of Red Wing Publishing Company that included takeover of websites including the print publications as well as commercial printing operations.

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Red Wing Publishing Company has been operating as a family-owned company in the market over the past 50 years and also has a subsidiary company known as Big Fish Works. Big Fish Works has been conducting its operations throughout Minnesota in three clusters. They are Crow River Media that is situated in the central part of the state, International Falls/North Star situated in the North East area and finally Southwest News Media that is located on the western side of Minneapolis.

The transaction related to the acquisition was handled by Dirks, Van Essen, Murray & April, one of the firms located at Santa Fe in New Mexico that has been handling mergers and acquisitions in the media sector. However, the terms of the transaction had been left undisclosed.

Big Fish has been serving some of the fastest growing markets that include International Falls, Hutchinson and Savage in the State of Minnesota. The St. Paul Pioneer Press is being operated by MediaNews Group.

The CEO of Big Fish, Mark Poss had made an announcement for the employees of the company about the changes in the industry taking place drastically over the past two decades. He also stated that there has been several challenges overcome by the company with the support of the employees, being an independent and family owned company. However, he continued that the various shifts observed in the habits of readers as well as the strategies adopted by advertisers changing over time were making small and independent companies such as theirs unviable to adapt to such changes, as these have evolved over time and the technology becoming unaffordable for such small and independent companies.

He further stated that consolidation was the result of such rapid changes taking place in the industry. He continued further by mentioning that there had been detailed discussions with the members of the board and family, after which they had concluded that it was best for the company as well as the staff members to go in for a sale of the company and its assets to a much bigger media company.

Poss had expressed that MediaNews Group has been one of the top five leading newspaper media companies in the country, who possess the resources, the necessary capital along with the strategies that are necessary to sustain and thrive in the continuous and rapidly changing business.           

Independent Tech & news media Writer

For more information, please contact:

Marlin Bode

Independent Tech & news media Writer
Tel: +1 814-302-1499

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