Company’s Santa Rosa Press Democrat to collaborate on bundled ad opportunities, events and online opportunities
By The New York Times Co.
NEW YORK, Jan. 26, 2005 — The New York Times Company, owner of The Santa Rosa Press Democrat, today announced the purchase of the North Bay Business Journal, a weekly publication targeting business leaders in California’s Sonoma, Napa and Marin counties.
“We are delighted to enter into an exciting new era with The North Bay Business Journal, to the benefit of readers and advertisers in the region,” said Mike Parman, publisher, The Santa Rosa Press Democrat. “Ken Clark, Randy Sloan and their staff have done an exceptional job of building a strong publication that serves the needs of the business community. Our collective creative energies and focus on quality will make for wonderful and exhilarating times for our employees, readers and advertisers.”
“We see the acquisition as an ideal venture between The Press Democrat and the Business Journal,” said Ken Clark, founding publisher, The North Bay Business Journal. “Our complementary strengths will allow us to offer the same great journalism our readers have come to expect, in addition to new advertising and event opportunities for businesses in the community.”
Mr. Clark will remain publisher of the Journal, which has a circulation of 9,000. He co-founded the weekly with Randy Sloan in 1987.
“We chose to work with the Press Democrat because we want to work with colleagues who will maintain the quality of our paper while also getting it into more hands,” continued Mr. Clark. “Our new colleagues bring resources we do not have and they share our commitment to making our great publication even better.”
The purchase will be completed in the next few weeks. Financial terms of the deal were not disclosed. David Emmonsof W.B. Grimes & Co represented the sellers in this transaction.
The New York Times Company (NYSE: NYT), a leading media company with 2004 revenues of $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com. For the fourth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2004 list of America’s Most Admired Companies. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.
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